The U.S. Office of the Comptroller of the Currency approves the charter applications of five trust banks, including BitGo

PANews December 13 News, according to an official announcement, the Office of the Comptroller of the Currency (OCC) approved the charter applications of five national trust banks, including BitGo. BitGo is authorized to convert its South Dakota-registered trust company, BitGo Trust Company, Inc., into a national bank called BitGo Bank & Trust, National Association (NA). BitGo Bank & Trust, NA is authorized to provide the following services: custody and maintenance of digital assets and certain non-deposit financial assets under federal trust and non-trust authority; and, in cases where federal law takes precedence over state obligations, to offer certain digital asset-related services nationwide without the need for state-by-state licensing.