According to documents from the Italian regulator, as seen on Tuesday, July 19, BitGo has been registered as a cryptocurrency service provider by the regulator, therefore cleared to offer digital wallet services to Italian customers in compliance with Italian laws.
As per the documents, the company’s German branch, BitGo Deutschland GmbH, was registered to provide crypto products in Italy on July 15.
This means that BitGo has met requirements from the Organismo Agenti e Mediatori (OAM), which oversees the activities of financial and brokerage firms in Italy and implements anti-money laundering controls.
BitGo is also licensed to offer services in South Dakota, New York, Switzerland, and Germany. The company disclosed that its applications to serve in a couple of other jurisdictions are still pending.
Others Expanding into Italian Market
BitGo’s entrance into the European nation follows a trend of other global cryptocurrency firms gaining approvals to operate in Italy.
On Tuesday, Crypto.com gained regulatory approval in Italy as part of its efforts to continue its expansion to new regions. The approval allowed the firm to provide a suite of products and services to Italian clients, open offices, and expand its national team.
