Tagomi Trading LLC (a subsidiary of Tagomi Holdings Inc.) has been cleared to do business in New York City, after being granted a BitLicense by the city’s Department of Financial Services (DFS).
As per the press release issued by the NYDFS, the New Jersey-based Tagomi (which is the 18th company to receive a BitLicense) is an institutional-level, investor-focused cryptocurrency trading platform which executes trades across varied liquidity venues. Owing to differing prices across crypto exchanges, Tagomi places trade orders across multiple exchanges, in order to find the lowest prices.
In addition to the BitLicense, NYDFS has also approved a money transmission license for Tagomi. In order to obtain both licenses, Tagomi was required to provide answers to DFS questions regarding its cyber security measures and anti-money laundering checks. Followin...