Crypto Custody Giant BitGo Expands into Singapore with Major License Acquisition
CryptoNewsTerminal Staff07 Aug, 2024
Crypto Custody Giant BitGo Expands into Singapore with Major License Acquisition
BitGo, a leading provider of cryptocurrency custody services, has obtained a Major Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS) through its subsidiary, X. With this license, BitGo is now authorized to provide a range of regulated digital asset services within the Singaporean market. The MPI license signifies BitGo's commitment to adhering to the highest standards of regulatory compliance and security. It enables the company to offer a suite of services tailored to the needs of institutional investors, including custody, trading, and lending. BitGo's expansion into Singapore underscores the growing demand for institutional-grade cryptocurrency services in the Asia-Pacific region. Singapore has emerged as a global hub for digital asset innovation, attracting major players from the industry. With the acquisition of the MPI license, BitGo strengthens its position as a leading provider of regulated cryptocurrency services worldwide. The company's presence in Singapore will further enhance its ability to meet the growing needs of its clients and contribute to the development of the digital asset ecosystem in the region.
