BitGo, a cryptocurrency custodian, has obtained a New York Trust license from The New York State Department of Financial Services (NYDFS). According to a press release, the custodian can now independently provide services for New York high-net worth clients.
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BitGo CEO, Mike Belshe, says the past year has been"exceptional" for the company due to the influx of institutional investors.
"Our new charter is an important milestone to serve these clients within New York State's regulatory framework," said Pete Najarian, Chief Revenue Officer of BitGo.
Earlier, BitGo revealed it hodls on its balance sheet $250 million in bitcoin (EXANTE: Bitcoin). According to Belshe, BitGo added bitcoin (EXANTE: Bitcoin) to its balance sheet when the service introduced a multi-signature feature.
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