BitGo Receives Conditional Approval to Become Federally Chartered Bank

2025-12-13 00:16

BitGo, a digital asset custody firm, has received conditional approval from the U.S. Office of the Comptroller of the Currency (OCC) to transition into a bank. Upon final approval, BitGo plans to convert its South Dakota-chartered trust company into a federally chartered national trust bank. This move will allow BitGo to offer digital asset custody and certain non-deposit financial asset services without needing state-by-state approval, while also providing regulated crypto-related services. BitGo anticipates receiving final approval soon and currently offers institutional trading, staking, stablecoin, and fund management services.

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