BitGo Holdings, Inc. (“BitGo”), the digital asset infrastructure company, and Kalshi Prime, announced the launch of HODL Margining, a Kalshi Prime network that enables eligible customers to fund fiat margin obligations with crypto holdings, without first selling any crypto assets. BitGo Bank & Trust, National Association (“BitGo Bank & Trust”), an OCC-regulated digital asset trust bank and subsidiary of BitGo, is the first custodian to join the new network.
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The HODL Margining network enables eligible customers of Kalshi Prime, the CFTC-registered futures commission merchant (“FCM”), to borrow against digital assets held in qualified custody at BitGo Bank & Trust, or any other custodian participating in the network, to fund margin for perpetual futures and other eligible margin products traded on KalshiEX.
Kalshi Katalyst, a lending affiliate of Kalshi Prime, provides U.S. dollar loans to eligible customers secured by BTC, ETH or eligible stablecoins held at BitGo Bank & Trust or other custodians. Katalyst deposits the proceeds directly into the borrower’s Kalshi Prime account, where Kalshi Prime’s margin, segregation, and risk controls apply.
Under the legal structure, pledged assets remain in qualified custody at BitGo Bank & Trust, rather than being transferred to a third-party venue or converted to cash. Digital assets are held in segregated client accounts, separate from BitGo’s own corporate assets, and are safeguarded using BitGo’s cold-storage infrastructure. BitGo maintains insurance of up to $250 million on assets held in custody. By keeping collateral at a regulated custodian, customers can fund margin while retaining legal ownership of their pledged assets, subject to Kalshi Katalyst’s security interest.
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