Crypto broker Tagomi Trading receives BitLicense from NYDFS

Crypto broker Tagomi is the latest to receive virtual currency license from the New York State Department of Financial Services (NYDFS).

Tagomi is an electronic brokerage for digital assets, combining institutional-grade services with a robust infrastructure to better meet the needs of sophisticated investors. It went live in December 2018 and recently raised $12 million in its latest funding round.

In addition to BitLicense, DFS said that it has also approved a money transmission license for Tagomi.

“The Department’s approval of Tagomi’s virtual currency and money transmitter licenses provides consumers with more choice and more protection in a continuously evolving global financial services marketplace,” said Acting Financial Services Superintendent Linda A. Lacewell.

With this license, Tagomi is authorized to engage in money transmission and to offer trade routing and order execution services for non-securities virtual currencies, including Bitcoin, Ether, Bitcoin Cash and LiteCoin.

"We are excited that DFS has approved our application as New York's first agency brokerage for virtual currencies. Our team of industry veterans has developed our order routing services with sophisticated clients in mind, and we look forward to expanding our presence with New Yorkers,” said CEO of Tagomi Trading LLC, Greg Tusar.