Dubai Regulator Approval on Horizon
With Dubai regulatory approval looming, BitGo’s ambitious Middle East expansion is gaining momentum BitGo,
the cryptocurrency manager backed by financial powerhouse Goldman Sachs, is making waves as it embarks on an ambitious journey to expand its footprint in the Middle East.
This strategic move follows the success of a $100 million funding round, which raises BitGo’s valuation to an impressive $1.75 billion. In an exclusive interview with Financial News, BitGo CEO Mike Belshe revealed the company’s ambitious strategy.
BitGo has already taken an important step by applying for a Virtual Assets Regulatory Authority (VASP) license in Dubai, setting the stage for offering its unique services in this emerging market.
While Belshe didn’t give a precise launch date, he made some promising comments
“We’re very close to getting approval from Dubai’s regulator.”
Bitgo`s Plans and preprations for future expansions
“We’re very close to getting approval from Dubai’s regulator.”
BitGo’s preparations for this Middle East tour don’t stop. Belshe said the company anticipated increased demand for its high-end services and began hiring in the region.
This is a testament to BitGo’s commitment to providing secure and reliable solutions to its customers.
The expansion frenzy is far from over in Dubai. BitGo is targeting multiple destinations across Asia, with India, Singapore and South Korea under consideration.
This bold initiative shows that BitGo is committed to bringing its industry-leading services to a global audience.
Bitgo`s Journey
The journey of BitGo has been quite remarkable, and with the backing of giants like Goldman Sachs, Craft Ventures, Digital Currency Group, etc., it is positioned to be a game changer in the ever-evolving world of cryptocurrency security
As BitGo continues to make its way to new frontiers, one can’t help but predict positive impact and innovation in the Middle East and beyond. In the dynamic world of cryptocurrencies, BitGo sails into exciting and uncharted waters.
