MAS Greenlights BitGo Singapore with In-Principle Approval for Key License

<p>BitGo,
a provider of financial services in the digital realm, has announced that its
subsidiary, BitGo Singapore Pte. Ltd., has received in-principle approval from
the Monetary Authority of Singapore (MAS) for a Major Payment Institution
Licence.</p><p>Clients
Gain Competitive Edge with Access to Aggregated Deep Liquidity</p><p>This
approval positions BitGo at the forefront of regulated digital payment token
services in Singapore. Once granted the full licence, the company will be
empowered to offer a comprehensive suite of services, allowing clients to
securely buy and sell digital assets through BitGo's insured cold storage
custody solution, housed within a cutting-edge class III vault.</p><p>Mike Belshe, the CEO of BitGo, Inc. remarked: "We applaud Singapore's sound, clear and robust regulatory
framework for digital assets. This in-principle approval from the Monetary
Authority of Singapore comes on the heels of
obtaining our BaFin licence in Germany. We look
forward to expanding our global footprint and providing our clients with
regulated, secure and trusted solutions."</p><p>One
of the key advantages for BitGo clients will be access to aggregated deep
liquidity, a critical component for effective trading in the digital asset
market. This feature ensures that clients can execute transactions efficiently,
even during periods of high market volatility.</p><blockquote><p lang="en" dir="ltr">BitGo receives in-principle approval from the Monetary Authority of Singapore (MAS).This expands our global footprint and provides APAC with regulated, secure and trusted solutions.We applaud Singapore’s sound, clear and robust regulatory framework for digital assets.