Bitcoin Investor Faces $12.5M Loss

BitGo Gains OCC Approval to Become National Trust Bank

• BitGo has received conditional approval from the U.S. Office of the Comptroller of the Currency (OCC) to convert into a national trust bank.
• This conversion will allow BitGo to offer regulated crypto services nationwide without requiring state-by-state licensing.
• The federal charter will enable BitGo to expand its services, including custody, trading, staking, and treasury services for digital assets.
• BitGo is preparing for a public offering and filed an S-1 with the SEC in September, reporting $4.19 billion in revenue for the first half of 2025, up from $1.12 billion in the same period of 2024.

BitGo’s conditional approval by the OCC marks a significant step towards becoming a national trust bank, allowing it to offer comprehensive crypto services across the U.S. without individual state licenses. The company’s revenue growth highlights its expanding role in digital asset management.