BitGo now offers regulated digital payment token services, such
as custody and trading in Singapore.
PALO
ALTO, Calif., Aug. 7, 2024
/PRNewswire-PRWeb/ --
- This milestone underscores BitGo's commitment to expanding in
Asia and views Singapore as a leading financial centre.
- Clients can now access the most comprehensive suite of digital
asset solutions from cold storage built within a class III
vault.
- This licence enables BitGo to cater to the growing demand for
regulated digital asset services throughout the region.
"Singapore
is a leading financial centre in Asia. With this licence, we can meet the
rising demands of clients with a diverse set of needs from fully
regulated custody and trade to self-custody wallets. BitGo is the
only company in the region offering the full set of
services."
BitGo, the leading infrastructure provider of digital asset
solutions, is pleased to announce that it has obtained the Major
Payment Institution Licence from the Monetary Authority of
Singapore (MAS). This comes after
its in-principle approval from several months prior. Singapore's robust and clear regulatory
framework supports our commitment to offering regulated, secure and
compliant digital asset services to the region.
BitGo now offers regulated digital payment token services in
Singapore. Clients will be able to
buy and sell digital assets from the safety and security of BitGo's
insured cold storage custody solution built within a class III
vault. Clients will have access to aggregated deep liquidity and an
industry leading platform for trading and custody.
Mike Belshe, CEO of BitGo said:
"Singapore is a leading financial
centre in Asia. With this licence,
we can meet the rising demands of clients with a diverse set of
needs from fully regulated custody and trade to self-custody
wallets. BitGo is the only company in the region offering the full
set of services."
Youngro Lee, CEO of BitGo Singapore and Head of BitGo Asia said:
"This licence marks a new era for BitGo's international operations,
enabling us to deliver unparalleled digital asset solutions to our
clients in Asia and beyond. We
look forward to working with MAS closely in the journey ahead."
With over a decade of expertise, BitGo offers industry-leading
custody and financial solutions around the world. This milestone
not only strengthens BitGo's presence in Asia but provides the businesses and all
digital asset participants in the region solutions needed to pave
the way for future advancements in this industry.
About BitGo
BitGo is the leading infrastructure provider of digital asset
solutions, offering custody, wallets, staking, trading, financing
and settlement out of regulated cold storage. Founded in 2013,
BitGo is the first digital asset company to focus exclusively on
serving institutional clients.
BitGo is dedicated to advancing a digital financial services
economy that is borderless and accessible 24/7. With multiple Trust
companies around the world, BitGo is the preferred security and
operational backbone for more than 1,500 institutional clients in
50 countries, including many of the world's top brands,
cryptocurrency exchanges and platforms. BitGo also
secures approximately 20% of all on-chain Bitcoin
transactions by value and is the largest independent digital asset
custodian. For more information, please visit
http://www.bitgo.com.
Media Contact
Sarah Cohen, BitGo, (310)
260-7901, press@bitgo.com
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SOURCE BitGo