BitGo Launches Singapore Subsidiary to Offer Comprehensive Digital Asset Services in APAC
BitGo, a leading provider of digital asset infrastructure, has officially launched its Singapore subsidiary, BitGo Singapore Pte. Ltd. This move follows the company’s acquisition of a Major Payment Institution License from the Monetary Authority of Singapore (MAS) in August 2024. The new subsidiary aims to provide a comprehensive suite of regulated digital asset services to the broader Asia Pacific (APAC) region, addressing the growing demand for institutional-grade solutions.
BitGo Singapore will offer a range of services, including secure, regulated cold storage for over 1,100 digital assets, seamless electronic and voice trading, automated settlement, and a full-service token management platform. The cold storage solution, backed by up to $250 million in insurance coverage, ensures unparalleled security and speed for withdrawals. The trading platform, accessible via API, UI, or voice trading, connects with top-tier liquidity providers to ensure competitive pricing and optimal trade execution.
The integration of BitGo’s Go Network with the platform enables instant fiat and crypto transfers, enhancing operational and cost efficiency for clients. This network addresses industry needs by mitigating counterparty risk with highly efficient Delivery versus Payment (DVP) settlement processes and access to exchange liquidity without pre-funding.
Youngro Lee, CEO of BitGo Singapore, expressed enthusiasm about the launch, stating, “We are thrilled to offer the APAC region a best-in-class suite of digital asset solutions and regulated infrastructure services. Our team is committed to providing the highest quality products and services while maintaining strict regulatory standards.”
BitGo Singapore has also formed strategic partnerships to enhance its service offerings. Albert Buu, co-Founder and CEO of Neutron Pay Inc., highlighted the significance of their collaboration with BitGo, saying, “By leveraging BitGo’s robust custodial infrastructure, we aim to enhance our ability to serve businesses throughout Southeast Asia with reliable and secure Bitcoin and Lightning Network services.”
Yoann Turpin, co-Founder of Wintermute, another key partner, added, “We see strong potential for collaboration in addressing the sophisticated needs of institutional players. By working together, we aim to build a more robust environment for institutions and drive meaningful growth across APAC’s digital asset markets.”
Singapore’s role as a central hub within the digital asset ecosystem is underscored by this launch. The city-state’s regulatory framework, led by the MAS, provides a stable environment for crypto businesses to operate and grow. BitGo’s comprehensive suite of digital asset services will address the market’s sophisticated needs while solving significant challenges around security, regulatory compliance, and operational efficiency.
BitGo has been operating in the APAC region since 2015 and has forged strong partnerships with leading institutions. The launch of BitGo Singapore marks the beginning of the company’s mission to enhance the utility and adoption of digital assets in the region, setting the stage for new developments that will propel APAC forward as a leader in the digital asset ecosystem.
