Korea is more than retail crypto market: BitGo CEO
Global crypto companies often underestimate Korea by viewing it primarily as a retail trading market, but that perception overlooks the country’s sophisticated financial institutions, advanced technology infrastructure and growing demand for regulated digital asset services, BitGo CEO Mike Belshe said. These factors could make Korea an important market for institutional crypto adoption, he said.…
BitGo CEO Mike Belshe has pointed out that global crypto companies often underestimate Korea's potential, seeing it merely as a retail trading market. However, this perspective fails to consider the country's robust financial institutions, cutting-edge technology infrastructure and rising demand for regulated digital asset services.
Belshe believes Korea could become a crucial market for institutional crypto adoption. The primary challenge, he told The Korea Times, is not the level of interest but rather whether Korean institutions possess the necessary infrastructure and regulatory certainty to comfortably participate. BitGo Korea, the Korean subsidiary of the U.S.-based global digital asset infrastructure firm, finalized its registration as a virtual asset service provider with the Financial Intelligence Unit of the Financial Services Commission, the nation's top financial authority, on August 20th.
This marks the first foreign crypto company to obtain direct registration in the Korean market, rather than through acquiring an already licensed local operator.
Written by urgent.news from The Korea Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
Also reported by 1 other outlet
- Korea is more than retail crypto market: BitGo CEO koreatimes.co.kr
