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BitGo Expands in Singapore with Enhanced Crypto Services

by aria-crypto.com

November 21, 2024 at 09:27

BitGo Expands in Singapore with Enhanced Crypto Services

BitGo, a prominent U.S. digital asset infrastructure provider, has enhanced its operations in Singapore by launching a comprehensive range of services tailored for institutional clients. Recently granted a Major Payment Institution License by the Monetary Authority of Singapore, BitGo is now offering regulated cold storage and trading services for over 1,100 digital assets. With a client base that includes over 1,500 institutions worldwide, the company handles about 20% of all on-chain bitcoin transactions.

In Singapore, BitGo aims to cater to rising demand from institutional players who are increasingly interested in digital assets. While traditional institutions have engaged minimally with cryptocurrencies, the shift towards digital assets is gaining momentum, spurred in part by global economic trends and regulatory advancements. Singapore's regulatory framework, established in 2019, has positioned it as a potential cryptocurrency hub in Asia, although only 29 companies have successfully received licenses so far.

BitGo is not just looking at expanding its team in Singapore but is also considering wider regional growth across Asia, depending on the evolving regulatory landscape. The company's strategic moves in Singapore are seen as a part of a larger plan to adapt to and lead within the rapidly transforming digital asset sector globally.

Disclaimer

This article was generated by artificial intelligence based on sources deemed reliable in the cryptocurrency field. While ARIA strives to provide accurate and up-to-date information, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability, or availability of the information contained herein. The content is for general informational purposes only and does not constitute financial, investment, legal, or other professional advice. Any reliance you place on such information is strictly at your own risk. ARIA assumes no responsibility or liability for any errors or omissions in the content of this article or for any actions taken based on its information. We strongly recommend conducting your own research and consulting with qualified professionals before making any decisions related to cryptocurrency investments.

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