The license was issued by The New York State Department of Financial Services (NYDFS). This will give BitGo permission to perform services such as KYC/AML compliance controls, fast crypto onboarding, cold storage of crypto assets, and more.
BitGo CEO Mike Belshe expressed his delight upon receiving the license. “We are extremely proud to receive the approval for a trust charter from NYDFS to serve the world’s premier financial organizations that are based in New York State,” he said.
Belshe also mentioned that the crypto market overall has experienced exceptional development this year. According to him,
Last year, BitGo also made headlines due to their partnership with TRON as they launched Wrapped BTC as a TRC-20 token on the Tron Blockchain.
This article first published on coinquora.com
Continue reading on CoinQuora
Source: Cryptocurrency - investing.com
