Key Points: The Monetary Authority of Singapore has licensed BitGo as a major payment institution.
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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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