RATE Group | US Bitcoin Firm BitGo Launches Two New Crypto Custodies in Europe
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US Bitcoin Firm BitGo Launches Two New Crypto Custodies in Europe

10 Feb US Bitcoin Firm BitGo Launches Two New Crypto Custodies in Europe

Posted at 12:16h in Bitcoin News by

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Major digital asset financial services firm BitGo is expanding its global reach by setting up two new regulated custodial entities in Europe.

BitGo, a United States-based firm that claims to process over 20% of all Bitcoin (BTC) transactions, has established new custodial subsidiaries in Switzerland and Germany, the company announced Feb. 10.

As the two new entities are regulated by different financial authorities, BitGo intends to allow its clients to choose the jurisdiction that is best suited to their business.

As such, BitGo GmbH, the Swiss entity of BitGo, is a member of the country’s major self-regulatory organization, the Financial Services Standards Association, which is overseen by the Financial Market Supervisory Authority, or FINMA. BitGo’s German subsidiary, BitGo Deutschland GmbH, is now providing custody services in Germany and is set to apply for regulatory approval in November 2020. 

Mike Belshe, CEO at BitGo, noted that the launch of new custodial entities in…

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