Institutional demand rises after BitGo obtains national trust charter and goes public
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The report says BitGo received an unconditional national trust charter in December and was listed on the New York Stock Exchange the following January, with a valuation of $2.59 billion. The company says interest in its services from financial institutions increased significantly after the charter approval and listing. BitGo offers banks two partnership options: banks can use its software to manage digital asset wallets and custody assets themselves, or BitGo Bank & Trust can provide custody. The company also says the national trust charter allows it to operate in more states and reduces the need for state-level money transmitter licenses (MTLs).
AI-written from reports · updated 1 hour ago
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- Banking DiveFinancial 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.
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