According to WSJ, digital asset custody firm BitGo announced that it received conditional approval from the Office of the Comptroller of the Currency (OCC) on Friday to transform into a bank; upon final approval, BitGo will convert its South Dakota chartered trust company into a federally chartered national trust bank, enabling it to offer digital asset and certain non-deposit financial asset custody without the need for state-by-state approval, as well as to provide regulated crypto-related services. BitGo expects to receive final approval soon, and its platform will support not only custody but also institutional trading, staking, stablecoins, and fund management services.

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