BitGo receives regulatory approval to transform into a banking institution
2025-12-12 16:24:31
Cryptocurrency custodian BitGo said on Friday that it has received conditional approval from the Office of the Comptroller of the Currency to transform into a banking institution. It is reported that once it receives final approval, BitGo will transform its South Dakota-registered trust company into a federally chartered national trust bank, and can custody digital assets and certain non-deposit financial assets, and provide regulated cryptocurrency-related services without state-by-state approval. The company said it expects to receive final approval soon.
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