Singapore is Now BitGo's Largest Trading Desk

BitGo opened a new office in Singapore on September 2, two years after its local subsidiary received a Major Payment Institution (MPI) licence from the Monetary Authority of Singapore (MAS). Singapore now hosts the largest trading desk within BitGo Prime, the company's institutional trading and financing business, ahead of any of BitGo's desks in the US or Europe, according to the company's announcement.

Since the MPI licence was granted in August 2024, BitGo's Singapore headcount has more than doubled and its client base across Asia-Pacific has tripled, spanning governments, regulated financial institutions, payment service providers, fintechs, and accredited investors. BitGo Prime's local trading volumes more than doubled in the first half of 2026 compared with the same period a year earlier.

"Institutions across the region are trusting us with more of their business, more often," said Angela Ang, BitGo's managing director for APAC and president of BitGo Singapore.

The expansion lands seven months after BitGo listed on the New York Stock Exchange. The company priced its IPO at $18 a share on January 21, raising about $212.8 million in what was the first crypto-native listing of 2026. BTGO shares have since fallen well below that level, trading around $6.86 in late August against a 52-week high of $24.50.

That decline has tracked a mixed run of quarterly results. BitGo's second-quarter revenue rose 79.6% year over year to $4.3 billion, but the company still posted a GAAP net loss of $19 million, and margins in its core digital-asset-sales business narrowed to 17 basis points from 32 basis points in the first quarter. Management is targeting a return to breakeven in the third quarter, partly through a workforce reduction of roughly 15%.

Singapore's growth is one of the clearest signs BitGo has offered that its international push is paying off, even though the Prime trading business driving that growth is also the company's thinnest-margin line. Whether that translates into the profitability BitGo has promised for the third quarter is likely to matter more to shareholders than the size of a new office.