BitGo Obtains Trust Charter License from New York Regulator

​BitGo, a leading digital asset financial services provider, announced that it has gained a new license to operate as an independent Qualified Custodian under New York State Banking Law.

With the new license, the crypto custodian will operate as a Limited Purpose Trust Company chartered by the New York Department of Financial Services (NYDFS).

Thanks to DFS approval, BitGo NY will be able to provide digital asset custody and other related services to New York customers, including DFS supervised entities authorized to engage in virtual currency activity.

Mike Belshe, CEO at BitGo, commented: “We are extremely proud to receive the approval for a trust charter from NYDFS to serve the world’s premier financial organizations that are based in New York State. The past year has been exceptional for BitGo and the digital asset markets overall, primarily due to the influx of large financial services institutions that bring a new level of credibility, liquidity and stability to the crypto ecosystem.”

In 2018, BitGo Trust Company became the first qualified custodian purpose-built for storing digital assets through the South Dakota Division of Banking. Built on BitGo's pioneering, battle-tested, multi-signature protocols, BitGo Custody delivers modern security for modern assets. BitGo Custody offerings provide strict policies, procedures, controls, and disclosures that are only guaranteed with a qualified custodian.