BitGo Receives OCC Approval to Operate as a National Digital Asset Trust Bank
BitGo Trust has secured a landmark approval from the Office of the Comptroller of the Currency (OCC), transitioning from a South Dakota state charter to a federally regulated national bank. The newly renamed BitGo Bank and Trust, National Association now operates under unified federal oversight, eliminating the complexities of state-by-state compliance.
The OCC's endorsement signals a maturation of regulatory frameworks for digital assets. Institutions gain a partner with standardized governance and risk practices, aligning crypto custody with traditional trust banking standards. This structural shift removes friction for nationwide service provision without fragmented licensing.
Federal supervision provides clarity for institutional adoption of BitGo's infrastructure. The MOVE reflects growing regulatory confidence in digital asset custodians as integral components of the financial system, potentially accelerating mainstream integration of crypto services.
