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USA approves BitGo for custody of crypto assets

Crypto security startup BitGo has received approval in the USA to act as a qualified custodian for digital assets.

The company announced that the BitGo Trust had been approved by the South Dakota Division of Banking on September 13, meaning it can now offer institutional clients a regulated storage solution for digital assets.

Although BitGo has customers who are ready to begin storing their assets with the Trust, under South Dakota regulations, the general public has 30 days to file an appeal against the decision. The company said it is set to begin operations on a technological level, and will do so once the 30-day period has expired if no appeals are filed.