Crypto custodian BitGo eyes Dubai expansion, applies for license
BitGo head Mike Belshe said the firm is close to receiving approval from the Dubai regulator. Cryptocurrency custodian BitGo, backed by Goldman Sachs, is seeking expansion into the Middle East following a recent $100 million funding round, which brought the company’s valuation to $1.75 billion. In an interview with Financial News, BitGo chief executive Mike Belshe said that the U.S.-headquartered firm has already applied for a Virtual Assets Regulatory Authority (VASP) license to offer its services in Dubai. Belshe added the firm has also started hiring in the region, although he did not provide the timeframe for the launch. “We are very close to receiving approval from [the] Dubai regulator.” BitGo CEO Mike Belshe The BitGo CEO also said the firm plans to relocate “a few staff members” from Europe to Dubai as the firm anticipates demand for its services to ramp up. You might also like: US Court grants Galaxy Digital victory, dismisses $10...