As a seasoned crypto investor with a knack for navigating the complex landscape of digital assets, I can’t help but feel a sense of relief and excitement upon hearing about BitGo’s recent approvals by the SIX Swiss Exchange and Singapore’s Monetary Authority.
Under the SIX Exchange Regulation Crypto-Asset Rule, BitGo has been granted custodian status, broadening its influence within the burgeoning European cryptocurrency market
According to a recent announcement on X, the firm is now authorized to offer regulated custodial services that adhere to Swiss financial laws
Obtaining approval from SIX Exchange, Switzerland’s principal stock exchange, reinforces BitGo’s position as a reliable provider of secure and compliant digital asset storage solutions, including cryptocurrencies. The custodial services offered by BitGo Europe will be backed by an insurance policy worth $250 million, offering extra security for their clients
At the start of August, BitGo obtained a Major Payment Institution license from Singapore’s Monetary Authority. This licensing enables them to provide regulated cryptocurrency payment services within the nation
After a preliminary understanding six months ago, this approval was granted, placing BitGo alongside 27 other firms holding complete MPI licenses. Much like the SIX approval, this license empowers BitGo to offer crypto custody, trading, and secure, insured storage services to its Singapore-based clients
What is the SIX Swiss Exchange?
Six Exchange, headquartered in Switzerland, offers securities, financial data, and transactional payment solutions
This main stock market of Switzerland is renowned for its diverse offerings, such as stocks, bonds, and exchange-traded goods. It functions under the umbrella of the broader SIX Group, offering services in securities trading, financial data, and processing, and handling payment transfers
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2024-09-05 19:24