Financial institutions show increased demand after BitGo receives national trust charter and goes public
BitGo received an unconditional national trust charter in December and listed on the New York Stock Exchange the following January, at a valuation of $2.59 billion; the company says interest from financial institutions has increased significantly since then. BitGo offers banks two options: they can use its software to manage digital asset wallets themselves and custody the assets, or have BitGo Bank & Trust provide custody. BitGo says the national trust charter allows it to operate in more states and reduces the need for state-level MTLs.