Crypto Custodian BitGo Wins In-Principle Approval as Major Payments Institution in Singapore
Summary
Crypto custodian BitGo has received in-principle approval to operate as a Major Payment Institution (MPI) in Singapore from the Monetary Authority of Singapore (MAS). This approval allows BitGo to operate while it awaits a full license, which will enable it to offer digital payment token services to clients in Singapore. The approval follows BitGo's recent acquisition of a BaFin license in Germany. BitGo was also recently named by Hashdex as bitcoin custodian in its application to become an issuer of a spot exchange-traded fund (ETF) in the U.S.
