BitGo acquires Brassica to enter RWA tokenization space

Cryptocurrency financial services company BitGo has acquired Brassica, a company focused on alternative asset investment infrastructure, as part of its efforts to promote the tokenization of RWA. BitGo and Brassica declined to disclose the specific terms of the transaction. Brassica provides back-end infrastructure services for private securities and alternative investments, including multi-asset custody, record keeping, and transfer agency services. Youngro Lee, CEO of Brassica, pointed out that the two companies are seeking to establish infrastructure that allows alternative assets to be traded on a large scale in a manner similar to publicly traded stocks.