BitGo Singapore Pte. Ltd., a subsidiary of BitGo, Inc., announced its official launch to provide regulated digital asset custody, trading, settlement, and token management services to the APAC region.
The launch comes after BitGo obtained its Major Payment Institution License from the Monetary Authority of Singapore (MAS) in August 2024.
Key features of BitGo Singapore’s platform include:
- Cold Storage: BitGo Singapore’s regulated custody offering supports over 1,100 digital assets–the broadest coverage of the top 100 tokens among custodians in the market. Leveraging decades of experience, multi-sig technology and backed by up to $250MM in insurance coverage, its custody offers unparalleled controls, security and speed for withdrawals.
- Electronic and Voice Trading: Clients can access deep liquidity directly from cold storage 24/7/365 through BitGo Singapore’s trading platform, which is available via API, UI, or voice trading. The platform relies on top-tier liquidity providers to ensure competitive pricing, optimal trade execution, and unmatched flexibility and speed for withdrawals.
- Automated Settlement via BitGo Singapore’s Go Network: Go Network addresses industry needs by mitigating counterparty risk with highly efficient DVP settlement processes and access to exchange liquidity. By enabling instant fiat and crypto transfers along with exchange access without pre-funding, Go Network increases operational and cost efficiency for clients in the region.
- Token Management Solution: Built on BitGo’s advanced security infrastructure, BitGo Singapore’s token management solution offers foundations, protocols, and organizations in APAC an automated, user-forward, custody-native solution for efficient token vesting, unlocking, and on-chain activities in a compliant, insured environment.
Youngro Lee, CEO of BitGo Singapore Pte. Ltd. said that their team is committed to providing clients with the “highest quality products and services while maintaining strict regulatory standards.”
Albert Buu, Founder and CEO of Neutronpay, Inc. said that they are pleased to announce their partnership with BitGo Singapore. They added that by leveraging BitGo’s robust custodial infrastructure, they aim to “enhance their ability to serve businesses throughout Southeast Asia with reliable and secure Bitcoin and Lightning Network services.”
Buu also noted that this collaboration marks “a significant milestone in our mission to expand access to efficient, fast, and secure digital payments, empowering businesses in the region to unlock the full potential of Bitcoin-powered solutions.”
The recently announced launch of BitGo Singapore is said to underscore Singapore’s role as a hub within the digital asset ecosystem, as well as the increasing demand for “institutional-grade solutions” across the APAC region.
The firm’s digital asset services will address the needs of the market while solving some of the challenges around “security, regulatory compliance, and operational efficiency.”
Yoann Turpin, co-Founder of Wintermute said that they are pleased to partner with BitGo as they “expand their presence in Singapore, a market where openness to crypto and the speed of innovation create an ideal environment for growth.”
Turpin added that having recently expanded their own footprint in the region, we see strong potential for “collaboration in addressing the sophisticated needs of institutional players.” They also mentioned that by working together, they aim to build a more “robust environment for institutions and drive meaningful growth across APAC’s digital asset markets.”
BitGo has operated in APAC since 2015, having forged partnerships with institutions across the region and supporting the “growth of the digital assets industry.”
The launch marks the beginning of BitGo’s mission of improving the utility and adoption of digital assets in APAC, setting the stage for “developments that will propel the region forward as the leader in the ecosystem.”
BitGo is the infrastructure provider of digital asset solutions, offering the following services: custody, wallets, staking, trading, financing, and settlement out of “regulated” cold storage.
Founded in 2013, BitGo is the digital asset company focusing on serving institutional clients.
BitGo is dedicated to advancing a digital financial services economy “that is borderless and accessible 24/7.”
With multiple Trust companies, BitGo is the security and operational backbone for institutional clients in 50 countries, reportedly including many of the major brands, cryptocurrency exchanges, and platforms.
BitGo secures appr. 20% of on-chain Bitcoin transactions by value and is the independent digital asset custodian.
