BitGo has established a subsidiary in Brazil to provide cryptocurrency custody and digital asset management services to financial institutions

According to Crowdfunding Insider, digital asset infrastructure company BitGo announced the official launch of its Brazilian subsidiary BitGo Brasil Tecnologia Ltda. The company's move aims to strengthen its international expansion commitment and align with the upcoming regulatory requirements for virtual asset service providers. BitGo believes that Brazil is moving towards requiring local management of encryption keys, and the company is ready to provide this capability. By establishing local businesses, BitGo aims to ensure compliance, security, and sovereignty when providing services to financial institutions such as banks, securities firms, and asset management companies.