Leading US digital asset custody and security company BitGo has acquired a New York Trust license from the New York State Department of Financial Services.
According to an announcement, the new letter allows BitGo to provide escrow services for institutional clients in New York looking to make large investments in crypto in accordance with local regulations.
- BitGo Seeks to Become a Qualified Cryptocurrency Custodian in New York State
With the new license, BitGo will provide Know Your Customer and Anti-Money Laundering controls and offer offline cold storage of crypto keys in bank-grade vaults, BitGo said.
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