CoinVoice has recently learned that the cryptocurrency custody firm BitGo announced on Friday that it has received conditional approval from the Office of the Comptroller of the Currency to transition into a banking institution. It is reported that once final approval is obtained, BitGo will convert its trust company registered in South Dakota into a federally chartered national trust bank, enabling it to custody digital assets and certain non-deposit financial assets, and provide regulated cryptocurrency-related services without state-by-state approval. The company expects to receive final approval soon. [Original link]