BitGo Expands to Singapore with New License for Regulated Crypto Services
BitGo, a prominent U.S. digital asset infrastructure provider, has officially launched its operations in Singapore after receiving a Major Payment Institution License from the Monetary Authority of Singapore (MAS) in August.
This license allows BitGo to offer regulated services such as custody and advanced wallet solutions, aligning its Singapore operations with its European and U.S. services.
With Singapore’s growing demand for regulated crypto services, BitGo aims to cater to institutional clients in the region. The launch includes features like regulated cold storage for over 1,100 digital assets, 24/7 trading, and real-time settlements. BitGo’s CEO in Singapore, Youngro Lee, emphasized that the market is poised for growth, attracting more traditional investors to digital assets. As Singapore strengthens its position as a crypto hub, BitGo is set to expand its presence and team in the region.
Clever Robot News Desk 22nd November 2024
