BitGo Secures MAS’ Preliminary Approval; Named as Hashdex’s Bitcoin ETF Custodian

• BitGo receives in-principle approval from the Monetary Authority of Singapore (MAS).
• The company envisions offering regulated digital payment services in Singapore.
• Hashdex considers BitGo as their crypto custodian to support their ETF application.

BitGo, a decade-old digital asset custody firm, recently announced that the Monetary Authority of Singapore (MAS) granted its subsidiary in-principle approval (IPA). While the platform aspires to offer digital payment services in Singapore, the IPA serves as a path toward a major payment institution license.

Mike Belshe, the CEO of BitGo, acknowledged Singapore’s crypto-friendly atmosphere. He applauded the “sound, clear, and robust” regulatory framework in Singapore that could aid BitGo’s vision of becoming a regulated crypto company. The CEO added:

This in-principle approval from the Monetary Authority of Singapore comes on the heels of obtaining our BaFin license in Germany. We look forward to expanding our global footprint and providing our clients with regulated, secure, and trusted solutions.

BitGo’s dedication and adherence to regulation are evidenced by recent developments, including the c…

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