BitGo has secured approval as a custodian under the SIX Exchange Regulation Crypto-Asset Rule, further expanding its presence in the European crypto market.
The company can now provide regulated custodial services in compliance with Swiss financial regulations, per a company statement on X.
BitGo’s approval under SIX Exchange, Switzerland’s primary stock exchange, strengthens its role as a provider of secure, compliant storage solutions for digital assets like crypto. BitGo Europe’s custodial services will be supported by a $250 million insurance policy, providing additional protection for its clients.
In early August, BitGo received a Major Payment Institution license from Singapore’s Monetary Authority, allowing it to offer regulated crypto payment services in the country.
This approval followed an initial in-principle agreement six months earlier and positioned BitGo among 27 other companies with full MPI licenses. Similar to the SIX approval, this license enabled BitGo to provide crypto custody, trading, and insured storage solutions to its Singapore clients.
What is the SIX Swiss Exchange?
SIX Exchange is a Swiss company that provides securities, financial information, and payment services.
It is Switzerland’s primary stock exchange, known for listing a wide range of securities, including stocks, bonds, and exchange-traded products. It operates as part of the larger SIX Group, which provides services in securities trading, financial information, and payment transactions.
Source: https://crypto.news/bitgo-approved-as-crypto-custodian-for-swiss-six-exchange/