🔥On December 13, cryptocurrency custody firm BitGo said on Friday that it has received conditional approval from the U.S. Office of the Comptroller of the Currency to transform into a banking institution.

It is reported that once final approval is obtained, BitGo will transform its South Dakota-registered trust company into a federally chartered national trust bank, and can custody digital assets and certain non-deposit financial assets, and provide regulated cryptocurrency-related services without state-by-state approval.

The company said it expects to receive final approval soon.$XRP $BTC $ETH