BitGo, an American company founded in California in 2013 by Mike Belshe and Ben Davenport, which offers a Cryptocurrency custody system that guarantees security, announces that it now provides regulated cryptocurrency custody and trading solutions in Singapore.
Although BitGo has been operating in APAC (Asia-Pacific Accreditation Cooperation) since 2015 and had a presence in Singapore, it did not offer specific services regulated by this country.
BitGo Singapore has officially launched its expanded product offering. We’re building on our deep roots in APAC to power one of the world’s most innovative digital asset hubs.
With our MAS license, comprehensive product suite, and over a decade of security expertise, BitGo… pic.twitter.com/2KTNlAoLM8
— BitGo (@BitGo) November 21, 2024
Truly, BitGo has taken a significant step in its regional expansion by officially launching its operations in Singapore. With obtaining the Major Payment Institution (MPI) License from the Monetary Authority of Singapore (MAS), BitGo Singapore Pte. Ltd. now offers a full range of digital asset custody, trading and management services securely and regulated to the entire Asia-Pacific region. In itself, expanding its products that will equate its local offer to that of Europe and the United States.
By the way, BitGo is also studying the possibility of expanding to other areas of Asia-Pacific. According to Youngro Lee, CEO of BitGo Singapore Pte. Ltd: “We don’t have concrete plans yet, but we are obviously studying the different opportunities and challenges. Much of this depends on the regulatory environment and how effective and efficient the process of collaborating with regulators is. So far, we have had a great relationship and dynamic with MAS, and that is one of the reasons why we decided to commit to building in Singapore.”
BitGo lands in Asia Pacific with its new headquarters in Singapore
BitGo Singapore’s regulated custody offering supports over 1,100 digital assets. Users can access deep liquidity directly from cold storage 24/7/365 through BitGo Singapore’s trading platform, which is available via API and voice operations.
By the way, BitGo has established itself as a global leader in digital asset custody, serving more than 1,500 institutional clients in 50 countries. The company processes approximately 20% of all on-chain Bitcoin transactions by value, demonstrating its dominant position in the market.
Youngro Lee said: “We are delighted to launch BitGo Singapore and offer the APAC region a suite of world-class digital asset solutions and regulated infrastructure services. Our team is committed to providing our customers with the highest quality products and services while maintaining strict regulatory standards. “We look forward to continuing to strengthen APAC’s digital asset ecosystem.”
Finally, Lee said: “We believe the market will grow over time, especially with the US elections and the global trend towards the adoption of digital assets, especially Bitcoin. “More and more traditional investors and institutions will want to offer and participate in digital asset services.”
I say goodbye with this phrase from George Soros: «It doesn’t matter at all if you are right or wrong. What does matter is how much you win when you are right and how much you lose when you are wrong.
Do you want to always be updated in the world of cryptocurrencies? Subscribe now to the CriptoTendencia WhatsApp channel! Here you will instantly receive the most relevant information about Bitcoin, Altcoins, DeFi, NFTs, Blockchain and the Metaverse.
Related
Crypto Keynote USA
For the Latest Crypto News, Follow ©KeynoteUSA on Twitter Or Google News.
