Key Points: The Monetary Authority of Singapore has licensed BitGo as a major payment institution.
BitGo's license in Singapore will allow the company to provide customers with secure transactions through its announced cold storage solution and access high liquidity on its trading platform.
#BitGo , a cryptocurrency custody company, announced that it has agreed to be licensed by the Monetary Authority of Singapore under a general payment institution license. This allows BitGo to provide a regulated digital #token custody and trading service.
BitGo's license allows BitGo to provide a regulated digital token custody and trading service. Earlier this year, Singapore's financial regulator agreed to obtain this license, in principle, through a local office.
In addition to BitGo's licenses in Singapore, other major players, including #Coinbase , also have licenses in Singapore. Crypto. com AND #ripple . Singapore has struck the right balance between technological advancement and investor protection, offering even more favorable terms.
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