BitGo, a leading provider of financial services for digital assets, on Tuesday announced its Singapore subsidiary BitGo Singapore Pte. Ltd. Ltd. has received In-Principle Approval (IPA) for a Principal Payment Institution License from the Monetary Authority of Singapore (MAS).
BitGo said in a statement that once fully licensed, it will be able to offer regulated digital payment token services in Singapore.
This allows clients to buy and sell digital assets with the safety and security of BitGo’s insured cold storage solution built inside a Class III safe.
Customers will also have access to deep aggregated liquidity and industry-leading security and custody.
“We applaud Singapore’s sound, clear and robust regulatory framework for digital assets. This in-principle approval from the Monetary Authority of Singapore comes on the heels of our receiving the BaFin license in Germany. Masu.
“We look forward to expanding our global footprint and providing regulated, secure and reliable solutions to our customers,” said Mike Belshe, Chief Executive Officer of BitGo, Inc.
Hoben (HB) Lim, Managing Director, Asia Pacific (APAC), BitGo He talked about Singapore’s leading position. Being a business gateway to APAC is a key driver of BitGo’s commitment to Singapore as its regional headquarters.
“We are excited to continue supporting the development and growth of the digital asset ecosystem in Singapore and the rest of the world,” he added.
BitGo is a company that provides secure and scalable wallet solutions for the digital asset economy, providing regulated storage, staking and trading, and core wallet infrastructure.
Founded in 2013, BitGo is a pioneer in multi-signature wallets and the first digital asset company solely focused on serving institutional clients.
In 2018, he launched BitGo Trust Company, the first certified custodian for digital asset custody, and in 2021 established BitGo New York Trust.
In 2022, BitGo launched institutional DeFi, non-fungible tokens (NFTs), and Web3 services.
BitGo secures approximately 20 percent of all on-chain Bitcoin transactions by value and supports over 700 digital assets within its platform.
BitGo provides the security and operational backbone for more than 1,500 institutional customers in 50 countries, including many regulated institutions and the world’s top crypto exchanges and platforms.
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