Guardian

California-based cryptocurrency exchange BitGo has made its official foray into Asia by <a href="https://x.com/BitGo/status/1859411791924908284" rel="noopener noreferrer nofollow">launching</a> a fully regulated subsidiary in Singapore. The announcement, made on November 21, follows the company’s acquisition of a major payment institution license from the Monetary Authority of Singapore (MAS) three months ago.
<h2 id="span-style-font-weight-400-singapore-as-the-gateway-to-apac-crypto-markets-span">Singapore as the Gateway to APAC Crypto Markets</h2>
Named BitGo Singapore, the new entity is positioned to cater to the Asia-Pacific (APAC) region with a comprehensive suite of services, including digital asset custody, trading, settlement, and token management.
According to Youngro Lee, CEO of BitGo Singapore, the subsidiary is committed to adhering to strict regulatory standards while providing institutional-grade solutions to meet the region’s growing demand for robust digital asset services.
Lee also stated that <a href="https://thecoinrise.com/germany-dethrones-singapore-to-become-the-most-crypto-friendly-nation/" rel="noopener noreferrer nofollow">Singapore’s crypto-friendly regulatory framework</a> and strategic location make it an ideal entry point for accessing Southeast Asia’s burgeoning markets.
<h2 id="span-style-font-weight-400-partnerships-to-strengthen-institutional-offerings-span">Partnerships to Strengthen Institutional Offerings</h2>
To bolster its operations in the region, BitGo has partnered with Wintermute, a prominent algorithmic trading firm. While the details of the collaboration remain undisclosed, Wintermute co-founder Yoann Turpin highlighted its institutional focus.
“By working together, we aim to build a more robust environment for institutions and drive meaningful growth across APAC’s digital asset markets,” Turpin stated.
The partnership is generally expected to enhance BitGo’s liquidity offerings and automated settlement processes.
<h2 id="span-style-font-weight-400-mas-s-tokenization-efforts-span">MAS’s Tokenization Efforts</h2>
The <a href="https://thecoinrise.com/monetary-authority-of-singapore-restrict-access-to-crypto-credits/" rel="noopener noreferrer nofollow">Monetary Authority of Singapore has been actively advancing</a> the tokenization of assets, aligning with BitGo’s goal of fostering digital asset innovation in the region. Under the Project Guardian initiative, MAS has facilitated trials involving over 40 institutions across seven jurisdictions, utilizing tokenized funds and currencies.
Leong Sing Chiong, MAS’s deputy managing director, noted that while these experiments show promise, industry-wide adoption and scalability remain challenges. This underscores the need for reliable infrastructure—a gap BitGo Singapore is poised to help fill.
The post <a href="https://thecoinrise.com/bitgo-expands-into-asia-with-regulated-singapore-subsidiary-details/" rel="noopener noreferrer nofollow">BitGo Expands into Asia with Regulated Singapore Subsidiary: Details</a> appeared first on <a href="https://thecoinrise.com/" rel="noopener noreferrer nofollow">TheCoinrise.com</a>.

BitGo Expands into Asia with Regulated Singapore Subsidiary: Details

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