BitGo Obtains MPI License In Singapore
The Monetary Authority of Singapore (MAS), Singapore’s financial watchdog, has given BitGo preliminary clearance for a Major Payment Institution (MPI) license.
While waiting for a full permit, BitGo will be able to offer digital payment token services to clients in Singapore thanks to this authorization.
Businesses with MPI licenses are not subject to transaction caps and are free to provide payment services.
In October 2023, BitGo was granted a crypto custody license by the German Federal Financial Supervisory Authority (BaFin), the country’s financial authority.
(With inputs from Shikha Singh)
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