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While probably not the outcome recent venture investors were shooting for when investing in Harbor, this marks the first time a single entity in the cryptocurrency space holds a broker-dealer, transfer agent, and a qualified custodian licenses.
The acquisition essentially allows BitGo to recreate all parts of the traditional financial system, Belshe said, noting that BitGo itself is a licensed custodian through the South Dakota Division of Banking. “As we build the market infrastructure for crypto there’s a lot of pieces to put together. At the end of the day the existing market has this huge advantage in having built up its structure over decades and we’re trying to replicate that in a short period of time,” Belshe said.
https://www.coindesk.com/bitgo-acquires-harbor-in-surprise-expansion-beyond-crypto-custody
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