November 21, 2024 – SINGAPORE — BitGo Singapore Pte. Ltd., a subsidiary of BitGo, Inc., has officially launched its operations, offering regulated digital asset custody, trading, settlement, and token management services to clients across the Asia-Pacific (APAC) region. This move follows the company’s acquisition of a Major Payment Institution License from the Monetary Authority of Singapore (MAS) in August 2024.
The launch marks BitGo Singapore’s entry as a key player in the digital asset ecosystem, addressing growing institutional demand for secure, compliant, and efficient solutions in the region.
Institutional-Grade Offerings
BitGo Singapore’s services include:
- Regulated Custody: Supporting over 1,100 digital assets, its custody solution uses multi-signature technology, decades of experience, and up to $250 million in insurance coverage to offer high security and withdrawal efficiency.
- 24/7 Trading Platform: Clients can trade directly from cold storage via API, user interface, or voice, with liquidity sourced from top providers to ensure competitive pricing and flexibility.
- Automated Settlement with Go Network: The Go Network enables instant fiat and crypto transfers, mitigating counterparty risks and improving operational efficiency.
- Token Management Platform: Designed for organizations in APAC, this platform supports token vesting, unlocking, and on-chain activities in a compliant, insured environment.
Industry Reactions
“We are thrilled to launch BitGo Singapore and offer the APAC region a best-in-class suite of digital assets solutions and regulated infrastructure services,” said Youngro Lee, CEO of BitGo Singapore.
Albert Buu, co-founder and CEO of Neutron Pay Inc., highlighted the strategic importance of the partnership, stating, “By leveraging BitGo’s robust custodial infrastructure, we aim to enhance our ability to serve businesses throughout Southeast Asia with reliable and secure Bitcoin and Lightning Network services.”
Yoann Turpin, co-founder of Wintermute, added, “We are excited to partner with BitGo as they expand their presence in Singapore, a market where openness to crypto and the speed of innovation create an ideal environment for growth.”
Regional Significance
Singapore continues to solidify its role as a central hub for digital assets, with BitGo’s expansion reflecting the increasing demand for institutional-grade solutions in APAC. The company, active in the region since 2015, has built partnerships with leading institutions and aims to further develop the digital asset ecosystem.
For more details, visit www.bitgo.com/singapore.