BitGo reports that it has submitted an application to establish its Taiwan-based entity, BitGo Taiwan.
This furthers their commitment to supporting demand for digital assets within APAC by providing clients with secure solutions.
Establishing this entity paves the way for an application to the FSC for an AML registration, which is “expected to commence shortly.”
Earlier this year the Virtual Asset Service Providers (VASP) association introduced a self-regulatory framework that marked a “critical inflection point for digital asset operations in the region.”
This standard encourages virtual asset service providers to obtain AML registration with the FSC, signaling a “transformative” approach to digital asset governance that “positions Taiwan in the forefront of regulatory innovation.”
Abel Seow, Head of BitGo APAC said:
“Against this backdrop of regulatory clarity and recognizing Taiwan’s role in the broader growth of the APAC crypto ecosystem, BitGo is dedicated to providing secure, innovative digital asset solutions that redefine industry standards. Setting up our Taiwan entity and subsequent AML registration is more than a regulatory requirement, it’s a commitment to building a trusted and transparent ecosystem that empowers investors in Taiwan and across the region.”
Leveraging the expertise of BitGo Trust Company, Inc., a regulated custodian with a track record of protecting digital assets, BitGo Taiwan will now aim to offer “comprehensive, institutional-grade services.”
This will include custody wallets with staking and settlement capabilities, all deployed directly from cold storage and “backed by up to $250MM in insurance coverage.”
BitGo’s offering distinguishes itself via utilizing “bank-grade” security protocols, redundant operational processes and “control mechanisms that provide protection for digital assets.”
This approach reflects BitGo’s deep understanding of institutional needs and its ability to deliver “sophisticated digital asset infrastructure.”
Sarah Kao, COO of Chainss said:
“The start of BitGo’s expansion into Taiwan represents a pivotal moment. Their understanding of institutions’ needs and ability to deliver sophisticated digital asset infrastructure will reshape how investors approach digital assets. We’re excited to see how they will enhance security standards and help unlock new opportunities for crypto adoption.”
By establishing a presence in Taiwan and aligning with the emerging regulatory frameworks, BitGo demonstrates its “commitment to the APAC region.”
They are working to shape the future of digital asset adoption through secure and compliant solutions.
As covered, BitGo is the infrastructure provider of digital asset solutions, offering custody, wallets, staking, trading, financing and settlement out of regulated cold storage.
Founded in 2013, BitGo is the digital asset company to focus on serving institutional clients. BitGo is dedicated to advancing “a digital financial services economy that is borderless and accessible 24/7.”
With Trust companies around the world, BitGo is reportedly the security and operational backbone for institutional clients in 50 countries.
BitGo also secures approximately 20% of all on-chain Bitcoin transactions by value and claims that it is the “largest independent digital asset custodian.”