With the full license, the firm will enable the trading of digital assets using its insured cold storage solution.
The firm recently obtained a German crypto custody license from BaFin.
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.
Clients
Gain Competitive Edge with Access to Aggregated Deep Liquidity
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.
Mike Belshe, CEO of BitGo, Inc., Source: LinkedIn
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."
Hobeng Lim, Managing Director of APAC for BitGo, Source: LinkedIn
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.
Regulatory
Environment for Digital Assets in Singapore
BitGo
Singapore's imminent acquisition of the Major Payment Institution Licence
aligns with Singapore's efforts to establish itself as a global hub for
financial technology and innovation. The MAS has been proactive in
fostering a conducive regulatory environment for digital asset services, and
BitGo's approval signifies a crucial step towards achieving regulatory clarity
and legitimacy in the sector.
Hobeng
Lim, the Managing Director of APAC for BitGo, said: "The Monetary Authority of
Singapore's forward-looking and
risk-proportionate regulatory framework for digital assets, as well as Singapore's leading position as a financial centre,
innovation hub and business gateway to APAC, are key factors driving BitGo's commitment to Singapore as its regional headquarters. We are excited
to continue supporting the development and growth of the digital asset
ecosystem in Singapore and
beyond."
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.
Clients
Gain Competitive Edge with Access to Aggregated Deep Liquidity
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.
Mike Belshe, CEO of BitGo, Inc., Source: LinkedIn
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."
Hobeng Lim, Managing Director of APAC for BitGo, Source: LinkedIn
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.
Regulatory
Environment for Digital Assets in Singapore
BitGo
Singapore's imminent acquisition of the Major Payment Institution Licence
aligns with Singapore's efforts to establish itself as a global hub for
financial technology and innovation. The MAS has been proactive in
fostering a conducive regulatory environment for digital asset services, and
BitGo's approval signifies a crucial step towards achieving regulatory clarity
and legitimacy in the sector.
Hobeng
Lim, the Managing Director of APAC for BitGo, said: "The Monetary Authority of
Singapore's forward-looking and
risk-proportionate regulatory framework for digital assets, as well as Singapore's leading position as a financial centre,
innovation hub and business gateway to APAC, are key factors driving BitGo's commitment to Singapore as its regional headquarters. We are excited
to continue supporting the development and growth of the digital asset
ecosystem in Singapore and
beyond."
The Role of PAMM, MAM & Copy Trading in Business Growth Strategies | Webinar
The Role of PAMM, MAM & Copy Trading in Business Growth Strategies | Webinar
The copy trading market is projected to double in size, growing from $2.2 billion to $4 billion by the end of this decade. In light of this, brokers and financial institutions are increasingly adopting PAMM, MAM, and Copy Trading solutions to scale operations and drive profitability. In this insightful webinar, Sergey Ryzhavin, Product Owner at B2COPY, outlines the advanced features of the B2COPY platform, showcasing how it enhances Copy Trading, PAMM, and MAM performance. Sergey also explores strategies for using these tools to attract new clients, improve customer engagement, and create additional revenue streams.
📣 Stay updated with the latest in finance and trading!
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The copy trading market is projected to double in size, growing from $2.2 billion to $4 billion by the end of this decade. In light of this, brokers and financial institutions are increasingly adopting PAMM, MAM, and Copy Trading solutions to scale operations and drive profitability. In this insightful webinar, Sergey Ryzhavin, Product Owner at B2COPY, outlines the advanced features of the B2COPY platform, showcasing how it enhances Copy Trading, PAMM, and MAM performance. Sergey also explores strategies for using these tools to attract new clients, improve customer engagement, and create additional revenue streams.
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/company/financemagnates/
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Join us at FMLS:24 to connect with global institutional brokers. Secure your spot today! #fmls24
Join us at FMLS:24 to connect with global institutional brokers. Secure your spot today! #fmls24
🌟 Explore cutting-edge solutions and connect with fintech leaders at FMLS:24!
🌟 Explore cutting-edge solutions and connect with fintech leaders at FMLS:24!
🤝 Meet industry leaders at the premier event for brokers – FMLS:24. Secure your spot today!
🤝 Meet industry leaders at the premier event for brokers – FMLS:24. Secure your spot today!
