Brink’s, the company famous for its armored cash trucks, has invested in Bitgo. This partnership paves the way for Brink’s and Bitgo to rapidly evolve in the digital asset industry.
Brink’s Dives Deeper Into Digital Assets With Strategic Bitgo Investment
Brink’s, the famous cash handling business known for its armored trucks, has announced a strategic investment in crypto custody firm Bitgo. This partnership indicates a strategic shift for Brink’s, traditionally known for its physical handling of cash.
While the financial specifics of this investment remain undisclosed, the collaboration positions Brink’s as Bitgo’s global logistics and vaulting provider. The partnership is seen as a step in both companies’ plans to expand and adapt in the rapidly growing digital asset industry.
“Brink’s commitment to best-in-class security makes them a valuable partner as we continue to innovate in the financial sector,” Bitgo stated in a post on X. The collaboration comes on the heels of Bitgo’s Series C funding round last August, where they raised $100 million and reached a valuation of $1.75 billion.
Baylor Myers, Vice President of Corporate Development at Bitgo said of the partnership:
Brinks is one of America’s most historic brands. Their commitment to best-in-class security is universally known. Bitgo is proud to join with them as we advance financial innovation both here in the USA and around the globe. Bitgo and Brinks are a natural fit, joining their tradition of security to the exciting digital future ahead.
Brink’s move into digital assets isn’t entirely new; the company began its foray by partnering with Metaco, a Swiss crypto custody firm, in 2022. This latest investment in Bitgo shows a continued commitment to the digital asset sector.
“In an increasingly digital world, it was a logical next step for Brink’s, the global leader in physical security and logistics, to partner with Bitgo, the leader in digital asset security and custody,” said Zac McKenna, Brink’s Manager of Digital Assets.
How do you think Bitgo will utilize Brink’s physical asset-based expertise? Share your thoughts and opinions about this subject in the comments section below.