Before receiving the license, BitGo served users in Singapore and APAC, but the offering included only custody services from the US South Dakota Trust and hot wallets.
California-based cryptocurrency custody firm BitGo is expanding its global operations by obtaining regulatory approval in Singapore, one of the world's most crypto-friendly countries.
BitGo has obtained the Major Payment Institution License (MPI) from the Monetary Authority of Singapore (MAS), the firm officially announced on Aug. 7.
The MPI license allows companies to provide a wide range of payment services, such as digital payment token services, without being subject to transaction limits imposed on smaller entities.
