BitGo set to transition Wrapped Bitcoin business to multi-jurisdictional custody. BitGo claims the move of its Wrapped Bitcoin business will make it the world’s first “multi-jurisdictional and multi-institutional custody.” https://yakihonne.s3.ap-east-1.amazonaws.com/6789a15735d4ac7cb13396ac59a0bdc813680111b9df4a7ff2497a364c869fb9/files/1717448665998-YAKIHONNES3.jpg
Currently, BitGo’s Wrapped Bitcoin (WBTC) custody operations and cold storage are based solely in the United States. However, according to an Aug. 9 statement, the company has begun a 60-day transition period to diversify its custodial locations and jurisdictions for the underlying Bitcoin BTC tickers down $59,660 to include Hong Kong and Singapore as well.
BitGo, a prominent cryptocurrency custody platform, is set to transition its Wrapped Bitcoin (WBTC) business to a multi-jurisdictional and multi-institutional custody structure. This move aims to enhance the security of its operations by diversifying custodial locations beyond the United States, with plans to include Hong Kong and Singapore as new jurisdictions