BitGo announced that AndX USA LLC has launched its U.S. exchange using BitGo’s Crypto-as-a-Service (CaaS) infrastructure. The arrangement gives AndX nationwide operations across all 50 states under an OCC-regulated custody framework and is supported by $250 million in custody insurance.
Background on AndX and the partnership
AndX is a New York–headquartered, AI-native Web3 financial platform that already operates in Turkey, the UAE, India, Brazil, the Philippines, and South Africa. The U.S. offering runs on BitGo Bank and Trust, National Association — the first federally chartered digital asset trust bank owned by a publicly traded company. AndX CEO Viru Raparthi said the move lets the company devote engineering resources to user-facing features such as AI-driven trading tools, tokenization of real-world assets, and global payments instead of building core custody and compliance infrastructure.
How the CaaS model works
BitGo’s CaaS supplies the regulatory and technical foundation through configurable APIs and webhooks: OCC-regulated custody, transaction monitoring, transfer workflows, and compliance architecture. AndX connects to that stack and focuses its development on the trading interface, AI capabilities, and market features. Frank Wang, BitGo’s managing director and head of fintech, described the model as enabling rapid market entry without sacrificing institutional-grade safeguards.
Why this approach is gaining traction
Launching a compliant U.S. exchange from scratch typically requires multiple state money-transmission licenses, a New York BitLicense, custody arrangements, dedicated AML and compliance teams, and surveillance systems — a process that can take 18–36 months and significant capital. By leveraging BitGo’s federally chartered bank and existing authorizations, entrants can shorten that timeline to API integration and contractual arrangements. BitGo’s $250 million custody insurance also reduces counterparty risk for partners. The model has grown alongside institutional developments such as the U.S. spot ETF market and the anticipated CLARITY Act, both of which raise expectations for custody, compliance, and clearing infrastructure.
What AndX brings to the U.S. market
AndX positions itself as an AI-first Web3 financial platform offering multi-asset trading, tokenization, cross-border payments, real-time analytics, and a gamified participation layer. With operations in several international markets, the company now intends to extend its product suite to U.S. users while relying on BitGo for regulated custody and compliance.
Market context
The AndX–BitGo launch reflects a broader industry shift toward building on regulated infrastructure as a competitive advantage. Recent sector moves — including acquisitions focused on licensing and clearing — show platforms prioritizing regulated back-end capabilities over purely organic user growth. As the CLARITY Act and other regulatory developments unfold, platforms that deploy OCC, CFTC, and state-level coverage via partnerships or in-house arrangements will likely hold structural advantages. The AndX and BitGo integration is an example of that strategy in practice.