What BitGo Is
BitGo is a major digital asset infrastructure and financial services company founded in 2013 and headquartered in Palo Alto, California. It provides institutional-grade services, including:
Custody of digital assets (crypto custody)
Wallet services (hot, cold, multisig)
Staking and settlement technology
APIs and infrastructure for trading, treasury, and wallet integration
OCC Approval: BitGo Becomes a Federally Chartered Bank
In December 2025, the U.S. Office of the Comptroller of the Currency (OCC) approved BitGo’s application to convert BitGo Trust Company, Inc. into a federally chartered national trust bank named BitGo Bank & Trust, National Association (N.A.).
This sets a New Standard for Institutional Digital Asset Infrastructure with Unified Federal Oversight
NEW YORK—(BUSINESS WIRE) — BitGo Holdings, Inc. (“BitGo”), a leading digital asset infrastructure company, today announced that the U.S. Office of the Comptroller of the Currency (OCC) has approved its application to convert BitGo Trust Company, Inc., previously a South Dakota–chartered trust company, into a federally chartered national trust bank named BitGo Bank & Trust, National Association (N.A.). With this approval, BitGo’s trust subsidiary is now operating as BitGo Bank & Trust, N.A.
As a federally chartered national trust bank, BitGo Bank & Trust, N.A. will operate under a single, uniform federal supervisory framework. This structure provides the regulatory clarity, governance, and oversight institutions expect from a federally regulated fiduciary, while reinforcing BitGo’s role as a foundational infrastructure provider for the modern financial system. The approval combines bank-level supervision with the security, compliance, and scalability that define BitGo’s platform.
Under its national trust bank charter, and subject to applicable law and OCC requirements, BitGo Bank & Trust, N.A. is authorized to:
Custody and safeguard digital assets and certain non-deposit financial assets under federal fiduciary and non-fiduciary authorities; and
Deliver certain digital asset–related services nationwide, without the need for state-by-state licensing where federal law preempts duplicative regulatory obligations.
All activities of BitGo Bank & Trust, N.A. are subject to the enhanced governance, compliance, and risk-management standards applicable to national trust banks.
“This approval represents a landmark step in building the financial infrastructure of the future,” said Mike Belshe, CEO and Co-Founder of BitGo. “By becoming a federally chartered digital asset trust bank in the United States, BitGo is setting a new standard for transparency, security, and regulatory clarity across the evolving financial services landscape.”
The OCC charter further strengthens BitGo’s global regulatory footprint, complementing its existing licenses and registrations worldwide. This expanded framework enhances BitGo’s ability to deliver secure, compliant infrastructure at scale, supported by:
Ongoing audits, comprehensive federal supervision, and stringent capital requirements
Up to $250 million in insurance coverage for assets held in qualified custody
Institutional-grade operational controls across custody, liquidity, and settlement services
“BitGo’s conversion to a federal bank charter is more than a milestone—it’s a signal of maturity for the entire digital asset ecosystem,” said Brian Brooks, Board Member at BitGo Holdings, Inc. “For more than a decade, BitGo has led with security, compliance, and innovation. This step places the company at the center of how digital assets integrate into the regulated financial system.”
BitGo’s platform supports custody, trading, staking, stablecoins, treasury, and settlement services for institutions globally. Operating as a federally chartered digital asset trust bank will further enhance and scale these offerings, reinforcing BitGo’s commitment to providing trusted, compliant, and scalable solutions to institutional clients worldwide.
“BitGo was built to deliver the security, trust, and performance institutions demand,” said Jody Mettler, President of BitGo Bank & Trust, N.A., and Chief Operating Officer of BitGo. “Our mission has always been to build infrastructure institutions can rely on—and with this approval, that mission expands into a new frontier.”
BitGo’s approval is part of a broader OCC initiative where several crypto-related firms (e.g., Circle, Ripple, Paxos, and Fidelity Digital Assets) received national trust bank charters or conversions — signaling increased regulatory engagement with digital assets within the U.S. banking system.
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