Mike

Major

SIX Token

Read

Crypto custodian BitGo has announced the launch of its Singaporean subsidiary following obtaining a local license from the Monetary Authority of Singapore.On Thursday, Nov. 21, crypto custody firm <a href="https://crypto.news/tag/bitgo/" rel="noopener noreferrer nofollow">BitGo</a> announced the launch of a <a href="https://crypto.news/tag/singapore/" rel="noopener noreferrer nofollow">Singapore</a> subsidiary to provide trading and settlement services, aiming to expand its presence in the Asia-Pacific region, according to a <a rel="noopener noreferrer nofollow">press release</a>.The move follows BitGo’s <a href="https://crypto.news/bitgo-secures-major-payment-license-from-singapores-mas/" rel="noopener noreferrer nofollow">receipt</a> of a Major Payment Institution License from Singapore’s Monetary Authority in August, allowing the firm to operate as a regulated provider of crypto services in the region. With the license secured, the subsidiary positions itself as the first full-service token management solution designed specifically for the APAC market.You might also like: <a rel="noopener noreferrer nofollow" href="https://crypto.news/bitgo-approved-as-crypto-custodian-for-swiss-six-exchange/"> BitGo approved as crypto custodian for Swiss SIX exchange </a>Singapore has positioned itself as a hub for cryptocurrencies with a regulatory framework led by MAS, including the Payment Services Act of 2019 and restrictions on promoting crypto services to the public.Youngro Lee, chief executive of BitGo Singapore, emphasized the firm’s commitment to regulatory compliance, saying BitGo looks forward to “further strengthening the APAC digital assets ecosystem.” The crypto custodian now joins over 25 crypto firms, such as Coinbase and Ripple, that have secured full MPI licenses in the country as well.Founded in 2013 by Mike Belshe, BitGo is a provider of digital asset security and custody services. The company secured $100 million in Series C funding, reaching a valuation of $1.3 billion.Read more: <a rel="noopener noreferrer nofollow" href="https://crypto.news/bitgo-appoints-ex-silvergate-president-to-oversee-reward-bearing-stablecoin/"> BitGo appoints ex-Silvergate president to oversee reward-bearing stablecoin </a>

BitGo launches subsidiary in Singapore to boost services in APAC

crypto.news

Other articles published on Nov 21, 2024

Marathon Digital raises $1 Billion to buy Bitcoin

Bitcoin Soars Above $97K: Is $100K Next in the Unstoppable Rally?

Spot Bitcoin ETFs Reach New Heights with Record Inflows

Sui Network Quickly Resolves Outage, Operations Back to Normal

Coinshift Launches csUSDL, Announces Strategic Partnerships

Solana Eyes $260 Breakout as Fibonacci Levels Target $602

Join our free newsletter for daily crypto updates!