99Bitcoins Exclusive: BitGO Europe Director Brett Reeves Advises “Avoid Relying on a Single Provider, Utilize Several”
Brett Reeves, the Head of European Sales for BitGo – a company recognized for its crypto asset custody and safety solutions, stated, “It may sound quite unusual for someone in sales like me to express this, but refrain from relying on a single provider. Utilize several.”
“After achieving critical mass, begin to diversify. There’s a saying in the UK, don’t keep all your eggs in one basket. Distribute them.” He recently spoke at the Nordic Blockchain Association on 18 June 2025 stating, “I was at Lehman Brothers during its downfall. I spent 20 years in prime brokerage before venturing into crypto. It’s essential to have multiple service providers.”
Gianluca Di Meo, the UK and Nordics Sales Head at Taurus remarked, “I wholeheartedly share those views – from the standpoint of being a salesperson and as an infrastructure provider. More than one infrastructure provider is essential, and there are possibly different models such as a self-custody model that we could support or another type of sub-custody model.”
“Traditional finance companies and banks will face challenges. Due to their rigid approaches”
Additionally, discussing adaptability, Reeves expressed, “When examining traditional finance, individuals had to modify their practices to enter this field. I believe, if you’re a custodian or a crypto wallet provider in this sector, continuous adaptability is vital—whether it involves new tokens, real-world assets, and so forth. It’s an ever-evolving model, and our companies must persist through this cycle. This is where traditional finance institutions, banks, and others will encounter challenges due to their inherent rigidity.”
They are employing 1980s technology in SWIFT (Society for Worldwide Interbank Financial Telecommunication) for asset transfers globally. Therefore, it will be tougher for banks to stay ahead.
I’m not suggesting they won’t manage it, but that’s where they might opt for something like Zodia Custody as they prefer outsourcing and utilizing a sub-custodian model for managing digital assets.”
He further mentioned, “BitGo adopts a slightly different strategy. We can provide that service. Yet, we also offer custody as a service.”
DISCOVER: 20+ Next Crypto to Explode in 2025
“You can depend on MiCA”
Speaking about clear regulations, Reeves noted, “I believe Europe with the Markets in Crypto-Assets Crypto law (MiCA) is one of the frameworks you can rely on. In the US, they’re still striving to advance that—several custodians there utilize trust structures.”
Importantly, BitGo obtained its MiCA license just last month.
USA born @BitGo, a prominent cryptocurrency custody provider, has secured a Markets in Crypto-Assets Crypto law (MiCA) license from Germany’s financial regulator, BaFin.https://t.co/ZnFIExhsVS
— Akriti Seth (@AkritiSethN) May 13, 2025
Furthering this discussion, Di Meo remarked, “Some of the most regulated entities globally possess exceptional financial power. Within reasonable limits, they can pursue their ambitions. They can create whatever they choose. The underlying reason this hasn’t spread throughout financial markets yet, especially regarding crypto custody or digital asset custody, is the absence of a regulatory landscape that enables these large institutions to function. The sole reason they would offer this service is if they have complete regulatory clarity and can be certain that when they introduce this service to the market, it’s aligned with regulatory comfort. Let’s remember, they’ve been established for over 100 years, perhaps even 200. From a reputational aspect, there’s much at stake, right? This is where the trust model becomes significant. If you’re an established player in the sector, maintaining that trust necessitates compliance with the regulator.”
We’ve encountered instances where the interpretation of MiCA has strongly indicated that relying on multiple providers in the custody realm alone is essential for crypto law.
“BitGo and Zodia take different stances on the operations of a digital asset custodian”
Gerry Afentakis, Managing Director Europe at Zodia custody, contributed his thoughts, saying, “In addition to being a custodian, a firm must engage in various activities with those assets that involve generating a yield, borrowing, lending. You may want to stake, trade, or undertake numerous activities. Thus, our philosophy at Zodia Custody (there’s no absolute right or wrong; it’s merely a difference in perspective and perhaps a different commercial model) is that focusing solely on the custody aspect is challenging enough, and that should be our main emphasis.”
“We find ourselves in a fast-paced digital asset environment where considerable innovation and movement occur in the unregulated landscape. Adoption and significant evolutions are taking place. We must find ways to engage in and price floor our more regulated, risk-managed services to include these kinds of developments.”
“We collaborate with top-tier service providers who will manage the various additional services our clients holding digital assets are interested in. This approach has distinct advantages,” Afentakis elaborated.
The post 99Bitcoins Exclusive: BitGO Europe Head Brett Reeves Says “Don’t Use One Provider, Use Multiple” appeared first on 99Bitcoins.
