BitGo Receives NYDFS Approval for New York Trust Charter
The firm plans to offer New York banks crypto custody as a service.
The acquisition comes as Galaxy Digital plans a U.S. listing later this year.
The custodian will manage potentially tens of millions of dollars in seized cryptocurrencies, according to documents published Wednesday.
Cassie Lentchner, the crypto custodian’s new COO, joins as BitGo merges with Galaxy Digital.
Bolstered by a wave of institutional crypto investors, BitGo is in a race against its peers to add insurance coverage.
A deal between the asset manager and the crypto custodian is close to being finalized, sources tell CoinDesk.