Doubling Down on APAC: BitGo’s Commitment to Innovation and Compliance in Taiwan

• BitGo announces its official expansion into Taiwan aiming to bring secure regulated digital assets solutions to clients in the region

• By submitting an application to establish a branch office in Taiwan BitGo seeks to apply for Anti-Money Laundering (AML) registration with Taiwan’s Financial Supervisory Commission (FSC) 

• This follows the launch of BitGo Singapore in November and reinforces BitGo’s commitment to the APAC region

BitGo is pleased to announce that it has submitted an application to establish its Taiwan based entity, BitGo Taiwan. This furthers our commitment to supporting increasing demand for digital assets within APAC by providing clients with secure digital asset solutions. Establishing this onshore entity paves the way for an application to the FSC for an AML registration, which is expected to commence shortly. 

The road to regulatory transformation

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 new 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.

“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,” said Abel Seow, Head of BitGo APAC. “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.” 

Shaping the future with BitGo’s comprehensive digital asset solution

Leveraging the expertise of BitGo Trust Company, Inc., a regulated custodian with a decade-long track record of protecting digital assets, BitGo Taiwan will offer comprehensive, institutional-grade services. This will include regulated custody wallets with advanced staking and settlement capabilities, all deployed directly from cold storage and backed by up to $250MM in insurance coverage. BitGo’s offering distinguishes itself through utilizing bank-grade security protocols, redundant operational processes and robust control mechanisms that provide unparalleled protection for digital assets. This multifaceted approach reflects BitGo’s deep understanding of institutional needs and its ability to deliver sophisticated digital asset infrastructure. 

“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,” said Sarah Kao, COO of Chainss

By establishing a local presence in Taiwan and aligning closely with the emerging regulatory frameworks, BitGo demonstrates its strategic commitment to the APAC region. We are working to actively shape the future of digital asset adoption through secure, innovative and compliant solutions. To learn more about how BitGo can help transform your digital asset strategy in APAC, connect with us today.