{"id":25525,"date":"2024-01-10T16:06:26","date_gmt":"2024-01-10T16:06:26","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/bitgo-granted-in-principle-approval-in-singapore\/"},"modified":"2024-01-10T16:06:26","modified_gmt":"2024-01-10T16:06:26","slug":"bitgo-granted-in-principle-approval-in-singapore","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/bitgo-granted-in-principle-approval-in-singapore\/","title":{"rendered":"BitGo granted in-principle approval in Singapore"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2021\/11\/1637298372780-b23cc67a-d751-4e32-ae08-d855d192b8da-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2021\/11\/1637298372780-b23cc67a-d751-4e32-ae08-d855d192b8da-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2021\/11\/1637298372780-b23cc67a-d751-4e32-ae08-d855d192b8da-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2021\/11\/1637298372780-b23cc67a-d751-4e32-ae08-d855d192b8da-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/>\n<\/picture>                    <\/div>\n<ul>\n<li dir=\"ltr\">Singapore\u2019s financial regulator has granted crypto custody firm BitGo an in-principle approval.<\/li>\n<li dir=\"ltr\">The licence allows BitGo to operate as a Major Payments Instutition (MPI) provider in the country.<\/li>\n<\/ul>\n<p dir=\"ltr\">Digital asset custody provider BitGo has received a regulatory nod from the Monetary Authority of Singapore (MAS). The crypto company said in an announcement on Wednesday that <a href=\"https:\/\/coinjournal.net\/news\/tag\/singapore\/\">Singapore<\/a>\u2018s financial regulator had granted it the in-principle approval to operate as a Major Payment Institution (MPI).<\/p>\n<p dir=\"ltr\">The approval expands BitGo\u2019s \u201cglobal footprint and provides APAC with regulated, secure and trusted solutions,\u201d the firm <a href=\"https:\/\/twitter.com\/BitGo\/status\/1744902415076462677\" rel=\"noopener noreferrer\" target=\"_blank\">noted<\/a> in a post on X.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">BitGo receives in-principle approval from the Monetary Authority of Singapore (MAS).<\/p>\n<p>This expands our global footprint and provides APAC with regulated, secure and trusted solutions.<\/p>\n<p>We applaud Singapore\u2019s sound, clear and robust regulatory framework for digital assets. \ud83c\uddf8\ud83c\uddec\u2026 <a href=\"https:\/\/t.co\/yTbMgudMCf\">https:\/\/t.co\/yTbMgudMCf<\/a><\/p>\n<p>\u2014 BitGo (@BitGo) <a href=\"https:\/\/twitter.com\/BitGo\/status\/1744902415076462677?ref_src=twsrc%5Etfw\">January 10, 2024<\/a><\/p>\n<\/blockquote>\n<p dir=\"ltr\">With the MPI licence, BitGo has the greenlight to offer its services in the country as it awaits a full licence from the regulator. When this happens, BitGo will expand its services to include digital payment tokens.<\/p>\n<p dir=\"ltr\">BitGo, which also has regulatory approval from Germany\u2019s BaFin, is bidding to join major crypto players including Coinbase, Ripple and Crypto.com in securing a full MPI licence from MAS. Coinbase <a href=\"https:\/\/coinjournal.net\/news\/coinbase-adds-usd-transfers-for-users-in-singapore\/\">recently highlighted<\/a> Singapore as a key market in the APAC region.<\/p>\n<p dir=\"ltr\">Notably, Singapore\u2019s nod to the wallet provider comes a few days after Hashdex named it as the custodian for its spot Bitcoin ETF.<\/p>\n<p dir=\"ltr\">In August 2023, BitGo announced it had secured $100 million in its Series C funding round, with this raised at a $1.75 billion valuation. The company said it would use the funding on strategic acquisitions and as it looks to position itself as a top crypto wallet and security infrastructure provider.<\/p>\n<p dir=\"ltr\">In October, it revealed a partnership with institutional digital asset infrastructure platform Copper. The alliance is geared towards enabling institutional access to spot and derivative exchanges from regulated cold storage.<\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><a href=\"https:\/\/coinjournal.net\/news\/bitgo-receives-in-principle-approval-in-singapore\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News ) Singapore\u2019s financial regulator has granted crypto custody firm BitGo an in-principle approval. The licence allows BitGo to operate as a Major Payments Instutition (MPI) provider in the country. Digital asset custody provider BitGo has received a regulatory nod from the Monetary Authority of [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":25526,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/25525"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=25525"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/25525\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/25526"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=25525"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=25525"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=25525"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}