Backed by Hana Financial Group and SK Telecom, BitGo Korea built a locally registered entity from scratch to serve institutional and enterprise clients, rather than taking the acquisition route.
- BitGo said it is the first global cryptocurrency firm to secure a virtual asset service provider license in South Korea, allowing it to offer custody and transfer services to institutional and enterprise clients.
- The newly established BitGo Korea adds to the company’s regulated entities in the U.S., Singapore, Germany and Dubai and is backed locally by strategic shareholders Hana Financial Group and SK Telecom.
- The license comes as South Korea’s institutional crypto market gains prominence amid a broader market slump that has hurt retail trading volumes.
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The Definitive Stablecoin Landscape Series: Asia Pacific
As stablecoins move into regulated finance, APAC is becoming a key proving ground. This report maps the region’s rules, use cases, and RLUSD’s role.
Why it matters :
As stablecoins move into regulated finance, APAC is becoming a key proving ground. This report maps the region’s rules, use cases, and RLUSD’s role.
Payments firm OpenPayd targets year-end Nasdaq listing to fund U.S. expansion and acquisitions
Crypto job postings triple to over 1,200 in September, but applications fall
BlackRock offers a glimpse of how tokenization may change your investment portfolio
Original sourceCoinDesk
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