BitGo Singapore has opened a new office as the digital asset infrastructure group reports growth in its Asia Pacific client base and Singapore trading business. The company says regional client numbers have tripled and Singapore headcount has more than doubled since it received its Major Payment Institution licence in August 2024.
Three Growth Measures With Different Boundaries
The figures describe different parts of the business and should not be combined into a single growth rate. The tripling of clients covers Asia Pacific, not Singapore alone. The headcount comparison covers Singapore and runs from the 2024 licensing milestone. The trading comparison is for Singapore Prime activity over two six-month periods, H1 2026 and H1 2025.
BitGo did not provide absolute client, employee or trading-volume totals in the office announcement. The figures therefore establish the company’s reported direction of growth without showing the starting scale, revenue contribution or market share. Similarly, the description of Singapore as the largest desk applies within BitGo Prime, not to the wider digital asset trading industry.
Angela Ang, Managing Director for APAC and President of BitGo Singapore, said institutions were trusting the company with more business more frequently. She linked its regional development to Singapore’s regulatory framework and financial ecosystem. The new office will support additional hiring in client coverage and business operations, although the release does not put a number on those planned roles.
The Singapore Licence Is the Local Foundation
The Monetary Authority of Singapore’s directory lists BitGo Singapore as a Major Payment Institution with cross-border money transfer and digital payment token services. That local authorisation is the relevant starting point for describing the Singapore operation, rather than relying on banking or custody permissions held elsewhere in the group.
The progression was already visible when BitGo launched its Singapore operation after receiving the licence in 2024. The current announcement concerns expansion of that presence. Its regional customer categories include regulated financial institutions, payment businesses, fintechs, digital asset companies, and high-net-worth and accredited investors, according to BitGo.
Those categories do not establish that every group service is available to every customer in every APAC country. A regional client relationship and a Singapore licence are different from a blanket authorisation across the region. Service scope still needs to be understood through the entity providing it and the applicable local requirements.
Prime Connects the Office to Global Liquidity
BitGo Prime connects institutional clients to exchanges, market makers and other liquidity providers while integrating trading with the group’s custody infrastructure. Stefan von Haenisch, Managing Director and Head of BitGo Prime, said Singapore connects regional clients to the same global liquidity network offered elsewhere. The office expansion gives the group more capacity to support those relationships locally.
The network has also been adding counterparties. BitGo added Virtu as a liquidity provider in July and brought Tradias into its Prime network earlier in the year. Those additions help explain what global network access means in practice, but neither establishes how much of Singapore’s volume growth came from a particular provider.
Connecting custody and execution can reduce the number of operational steps an institution manages across systems. It does not make execution, credit or settlement exposure disappear. The commercial question is how effectively the combined service meets a client’s requirements for liquidity, asset control and transaction processing.
Financing and Settlement Broaden the Relationship
The office announcement sits alongside BitGo’s expansion of its Prime financing offering. That development gives the group another way to serve institutional clients beyond holding and trading assets. It is relevant to the depth of a customer relationship, but the Singapore release does not separately disclose financing volumes or attribute the reported trading increase to borrowing activity.
Settlement connectivity is another part of the wider offering. Caladan’s integration of BitGo settlement illustrates how custody infrastructure can be connected to an external liquidity service. That arrangement references BitGo’s US bank and trust entity and should not be presented as an additional permission granted by the Singapore MPI licence.
The Next Test Is Scale Beyond Percentage Growth
For BitGo, the combination of regional client growth, local hiring and a larger trading operation supports the case for investing further in Singapore. The three measures show expansion across distribution, staffing and activity rather than an office move in isolation. The company is also positioning the city to support institutions that need access to a global service during Asian business hours.
Absolute volumes, recurring revenue and client concentration would provide a fuller view of the business behind those growth rates. For now, the disclosed picture is narrower but meaningful: an existing licensed operation is adding physical capacity after two years of customer expansion, while its Singapore Prime desk is handling substantially more trading than a year earlier.