BitGo Approved for Bank Transformation, US Cryptocurrency Custody Enters a New Regulatory Era

2025-12-12 16:48:13

【Blockchain Movement】BitGo’s latest move is quite blockbuster. On December 13th, news broke that this cryptocurrency custody giant received conditional approval from the US Office of the Comptroller of the Currency (OCC), allowing it to officially transition into a banking institution. It sounds simple, but behind it is a major breakthrough — once finalized, BitGo will rebrand its trust company in South Dakota into a federally chartered national trust bank.

What does this mean? In short, BitGo will be able to openly custody digital assets and certain non-deposit financial assets, and provide regulated cryptocurrency-related services without having to seek approval state by state. For the entire industry, this opens up a new horizon — the integration point between traditional finance and the crypto ecosystem is becoming clearer. The US compliance framework is gradually paving the way for mechanized custody of digital assets, and BitGo is among the beneficiaries of this wave of benefits.

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