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BitGo, a provider of cryptocurrency security services, announced this Friday that it has received approval to operate as a trust company. According to a company statement, the South Dakota Division of Banking has approved BitGo Trust Company as a public South Dakota Trust Company.
“Custody has been the missing piece of cryptocurrency market infrastructure and this gap has kept institutional investors out of the market.” Said Mike Belshe, CEO of BitGo, “BitGo Trust Company is a qualified custodian, and therefore the only custody offering that delivers the highest levels of both security and regulatory compliance.”
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