BitGo can now provide cryptocurrency custody services to New York State clients.
According to a March 4 press release, the New York City Department of Financial Services (NYDFS) has licensed BitGo to provide custodian services.
BitGo said the license will enable the company to attract large institutional clients.
“Financial institutions in New York are critical to accelerating the adoption and adoption of digital assets. BitGo has seen tremendous interest in its products and services from New York banks, pension funds and hedge funds, ”the company said.
BitGo applied for a license in August 2020.
Audit firm KPMG and Coin Metrics unveiled a suite of analytics tools for BitGo institutional clients last month.
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