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The Office of the Comptroller of the Currency (OCC) approves charter applications for five trust banks including BitGo
According to sources from Hash Chain News, the OCC has approved the charter applications for five national trust banks, including BitGo. BitGo has been authorized to convert its South Dakota-registered trust company, BitGo Trust Company, Inc., into a national bank called BitGo Bank & Trust, National Association (NA). BitGo Bank & Trust, NA is authorized to provide the following services: safekeeping and maintenance of digital assets and certain non-deposit financial assets under federal trust and non-trust authority; in cases where federal law takes precedence over state law, certain digital asset-related services can be offered nationwide without the need for state-by-state licensing.
#BitGo #Cryptocurrency #Blockchain #Digital Assets #Financial Services