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Crypto brokerage startup Tagomi Trading has obtained a Bitlicense from the New York Department of Financial Services (NYDFS), according to a press release published by the Department of Financial Services.

Tagomi Trading was granted by virtual currency and money transmitter licenses on March 27th, making Tagomi the 18th Bitlicense broker in the Empire State.

The Acting Superintendent Linda Lacewell said that the approval is based on the fact that Tagomi is consumer-oriented. The firm will provide people “with more choice and more protection in a continuously evolving global financial services marketplace.”

Tagomi was launched in December 2018 with a total of $28 million raised overall. Lately, Tagomi got an additional $12 million in funds, in an effort to offer prime brokerage and services to hedge funds investing in cryptocurrencies.

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