BitGo, a leading U.S. digital asset infrastructure provider, has officially commenced its licensed operations in Singapore, the company disclosed last Thursday. Securing a Major Payment Institution License from the Monetary Authority of Singapore (MAS) in August enables BitGo to offer a full spectrum of regulated services, including custody and advanced wallet solutions, thus aligning its Singapore offerings with its European and American operations.

Singapore’s market is ripe for expansion as BitGo aims to serve a growing demand from institutional clients for regulated crypto services. The launch includes cutting-edge features such as regulated cold storage for over 1,100 digital assets, 24/7 trading, and real-time settlements. “The market will only grow larger, drawing more traditional investors towards digital assets,” noted Youngro Lee, CEO of BitGo Singapore.

Singapore continues to strengthen its position as a central hub for cryptocurrency in Asia, already hosting 29 licensed digital payment token service providers. With its strategic expansion, BitGo is well-positioned to play a pivotal role in the region’s burgeoning digital asset landscape, anticipating an increase in both market demand and team size in the coming years.