BitGo Wins Major Payment Institution Licence in Singapore

BitGo, the leading infrastructure provider of digital asset solutions, is pleased to announce that it has obtained the Major Payment Institution Licence (MPI) from the Monetary Authority of Singapore (MAS).

Founded in 2013, BitGo was the first digital asset company to exclusively target institutional clients, offering custody, wallets, staking, trading, financing and settlement out of regulated cold storage.

By tapping into BitGo's aggregated deep liquidity and leading platform for trading and custody, clients can now buy and sell digital assets without worrying about how to custody those assets, relying instead on the safety and security of BitGo's insured cold storage custody solution, which is built within a Class III vault.

"Singapore is a leading financial centre in Asia. With this licence, we can meet the rising demands of clients with a diverse set of needs from fully regulated custody and trade to self-custody wallets. BitGo is the only company in the region offering the full set of services." said Mike Belshe, CEO of BitGo in a press release.

Besides expanding BitGo's presence in Asia, businesses in the digital asset ecosystem in the region will also have solutions needed for future adoption in the industry.

"This licence marks a new era for BitGo's international operations, enabling us to deliver unparalleled digital asset solutions to our clients in Asia and beyond. We look forward to working with MAS closely in the journey ahead" said Youngro Lee, CEO of BitGo Singapore and Head of BitGo Asia in the same press release.

Last week, Moomoo became the first digital brokerage in Singapore to obtain a license for digital payment token services after securing an MPI license from MAS.