BitGo has increased its market share in the European cryptocurrency market by being approved as a custodian under the SIX Exchange Regulation Crypto-Asset Rule.
According to a business statement on X, the company can now offer regulated custodial services per Swiss financial legislation.
The main stock market in Switzerland, SIX market, has approved BitGo, which further solidifies its position as a provider of safe, legal storage options for digital assets like cryptocurrency.
A $250 million insurance policy will back BitGo Europe’s custodial services, giving its clients even more security.
BitGo can now provide regulated cryptocurrency payment services in Singapore thanks to a Major Payment Institution license it obtained from the Monetary Authority of Singapore early in August.
With this clearance, BitGo is now included among 27 other businesses with complete MPI licenses, having reached an initial in-principle agreement six months prior.
This license allowed BitGo to offer crypto custody, trading, and insured storage solutions to its Singaporean clients, much like the SIX approval did.
What is the SIX Swiss Exchange?
A Swiss business called SIX Exchange offers payment services, financial data, and securities. It is the main stock exchange in Switzerland and is renowned for listing various securities, such as bonds, stocks, and exchange-traded vehicles.
It functions as a component of the wider SIX Group, which offers services for financial information, payment processes, and trading securities.
