Financial institutions show increased demand after BitGo receives national trust charter and goes public

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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.