This initiative is part of HTX’s broader plan to enhance its offerings for institutional users. In the first half of 2024, HTX Ventures funded 23 projects, including ventures in DeFi, infrastructure, Bitcoin, AI, and emerging fields like DePIN and SocialFi.

The Go Network is built to minimize operational and counterparty risks. Assets are kept in cold storage, staying under the regulatory supervision of the Monetary Authority of Singapore. BitGo Singapore holds a Major Payment Institution license and offers insurance coverage up to $250 million for custody assets. The client’s funds are maintained in separate accounts and are not connected to HTX’s balance sheet.

HTX asserts that the current setup allows clients to allocate capital to the trading platform while retaining control over their assets. This structure is set to provide enhanced flexibility and efficiency in fund utilization.

Post-trade operations are also part of the integration. Automated settlement workflows will be managed directly within BitGo’s custody framework. This approach aims to streamline processes and aid in meeting compliance standards.

In response to the growing institutional crypto demand, BitGo recently launched an institutional over-the-counter (OTC) crypto trading desk. The desk has been operational since early 2024, processing billions in volume and establishing a $150 million lending book. It provides 24/7 trading of over 250 digital assets, including spot and derivatives, as well as lending and yield products.

The post HTX Collaborates with BitGo to Boost Cold Storage and Automation for Institutional Appeal appeared first on Crypto Market Insights: Dive In with CryptoUpdate.io.

BitGo, a prominent player in the crypto industry, specializes in providing custodial services for digital assets such as Bitcoin on behalf of their clients. The MiCA license will enable BitGo to extend its services to crypto-based companies as well as traditional financial institutions, including banks and asset managers within the EU.

“This license underlines our dedication to maintaining the highest levels of security, transparency, and trust,” stated Harald Patt, Managing Director of BitGo Europe.

BitGo, established in Palo Alto, California, in 2013, has been making strides to expand its presence in the EU. This includes the establishment of BitGo Europe, headquartered in Frankfurt, in 2023. Since then, BitGo has received additional registrations in various EU countries, including Italy, Spain, Poland and Greece.

“With the acquisition of the MiCA license, BitGo can now operate across the entire EU under a unified, forward-looking regulatory framework,” the company announced.

BitGo has yet to disclose the specific services it plans to roll out under the new license. However, the firm has mentioned that it is expanding its product suite to offer a broad range of institutional-grade digital asset solutions.

As of May 12, BaFin’s official records did not reflect BitGo’s MiCA license, showing only earlier registrations. BitGo was approached for additional details, but has not responded as of the time of this report.

Germany has established itself as a key jurisdiction for European businesses seeking MiCA registration, with BaFin issuing licenses to several other companies, such as Bitpanda and Boerse Stuttgart Digital Custody, in 2025.

The post BitGo Obtains MiCA License for Crypto Custody in Germany appeared first on Crypto Market Insights: Dive In with CryptoUpdate.io.