BitGo Gains In-Principle Approval from Authority to Operate in Singapore BitGo has recently been granted in-principle approval from Singapore’s Monetary Authority of Singapore (MAS) for a Major Payment Institution license. According to a social media post published by the established American digital asset custody firm,
BitGo is one step closer to offering specialized trading services for non-retail investors. “This expands our global footprint and provides APAC with regulated, secure and trusted solutions,” wrote the post.
“We applaud Singapore’s sound, clear and robust regulatory framework for digital assets.” With the full license in sight,
BitGo Singapore Pte. Ltd. plans to expand its services in the city-state. The company aims to enable institutional clients
to purchase and sell cryptocurrencies directly from its cold storage custody solution.
Singapore’s regulatory clarity around digital assets,
and its position as a leading innovation hub and gateway to Asia-Pacific are key factors driving the expansion to the Republic, said Lim Ho Beng, BitGo’s Asia-Pacific managing director, as reported by The Straits Times. BitGo CEO Mike Belshe
highlighted the significance of the MAS in-principle approval following the firm’s recent acquisition of its German license.
“We look forward to expanding our global footprint and providing our clients with regulated, secure and trusted solutions,” said Belshe.
