BitGo Announces Launch of Subsidiary in Singapore
Crypto custody firm BitGo has announced the launch of its Singapore subsidiary and its receipt of a Major Payment Institution License from the Monetary Authority of Singapore. The new subsidiary will provide trading and settlement services, expanding the company’s presence in the Asia-Pacific region.
This move aligns with Singapore’s positioning as a cryptocurrency hub with a robust regulatory framework. BitGo is one of over 25 crypto firms that have secured full licenses from MAS. The subsidiary aims to be the first full-service token management solution designed specifically for the APAC market.
BitGo’s chief executive for Singapore, Youngro Lee, highlighted the company’s commitment to complying with regulations in the region and its goal to strengthen the digital asset ecosystem in APAC.
