BTC PULSE
No Result
View All Result
Play Now
No Result
View All Result
BTC PULSE
No Result
View All Result
Play Now
Home Regulation

BitoPro Teams Up with Local Bank to Open ‘Crypto-Friendly Bank Account’ in Taiwan

by Abimbola Adu
Jun 21, 2024 - 1:54 pm
in Regulation
Crypto trader White Whale increases bounty against MEXC after in-person KYC demand

BitoPro and Far Eastern International Bank Bankee Introduce Crypto-Friendly Bank Account

BitoGroup, the parent company of Taiwanese cryptocurrency exchange BitoPro, has entered into a strategic partnership with the local digital bank Far Eastern International Bank Bankee. This collaboration aims to launch a ‘crypto-friendly bank account,’ designed to streamline fiat transactions between BitoPro’s users and traditional banking institutions.

Enhancing Transaction Efficiency

In a recent press release, BitoGroup CEO Titan Cheng announced that the company anticipates a 25% increase in the average daily transaction amount per user with the introduction of the new service. Cheng emphasized the potential for “explosive growth” as the service becomes fully operational and accessible to all customers in Taiwan.

Expansion of Crypto Payment Services

In addition to this banking initiative, BitoPro has partnered with Neweb Technologies, a third-party payment processor based in Taiwan, to launch BitoPay. This new payment service will enable approximately 300,000 merchants across the country to accept cryptocurrency payments, significantly expanding the usability of digital currencies in everyday transactions.

Supporting Crypto Adoption and Education

These developments are part of a broader trend of international cryptocurrency firms bolstering their educational efforts and infrastructure within Taiwan. Earlier in June, Tether, the largest stablecoin issuer by market capitalization, invested $18.75 million in Taipei-based crypto exchange XREX. This investment aims to enhance USDT-based payment applications in emerging markets.

Moreover, Tether has recently partnered with the National Taipei University of Technology to advance blockchain and digital asset education. This collaboration seeks to provide students with comprehensive knowledge and practical skills in blockchain technology, Bitcoin, and stablecoins, preparing them for future opportunities in the digital asset space.

Conclusion

The collaboration between BitoGroup and Far Eastern International Bank Bankee represents a significant step forward in the integration of traditional banking and cryptocurrency services in Taiwan. With the launch of the crypto-friendly bank account and the expansion of crypto payment capabilities through BitoPay, Taiwan is poised to become a more crypto-friendly environment, fostering both adoption and innovation in the financial sector.

Tags: BlockchainCryptocurrencyRegulation
Abimbola Adu

Abimbola Adu

Abimbola Adu is a crypto content writer with a background in English studies. She is keen on enlightening others about cryptocurrency and blockchains. She enjoys writing poems and spending time with family.

Related Posts

SUS Capitol building with digital crypto symbols, symbolizing upcoming regulatory discussions in Congress.

US Lawmakers Expected to Propose Crypto Regulation by November — Anthony Scaramucci

February 4, 2025

Anthony Scaramucci suggests US lawmakers may propose crypto regulations by Nov 2024 to gain support from the industry...

Former Binance CEO Changpeng Zhao warning about crypto security exploit affecting Apple devices

CZ Warns Crypto Community of New Exploit Targeting macOS and iPhone Users

November 21, 2024

CZ warns the crypto community of zero-day exploits on Intel Macs and iPhones, urging updates to protect sensitive...

Cathie Wood of ARK Invest discusses the impact of SEC deregulation on the US economy

Defanging the SEC: How Regulatory Shifts Could Turbocharge the US Economy

November 11, 2024

Cathie Wood foresees US economic growth through SEC deregulation, tech innovation, and pro-crypto policies under Trump. Emerging tech...

Bolivian bank Banco Bisa launches a USDT custody service, enabling clients to buy, sell, and transfer USDT

Bolivia Embraces Crypto Momentum: Banco Bisa Launches USDT Custody Service

October 28, 2024

Bolivia's Banco Bisa introduces USDT custody service, allowing clients to securely buy, sell, and transfer stablecoins within a...

View All
BTC-Pulse LogoTransparent

© 2024 BTC-PULSE. Disclaimer: The content is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice.

Info

  • Learn
  • Price Prediction
  • Events
  • Press Releases
  • Sitemap

Company

  • About Us
  • Terms of Service
  • Privacy Policy
  • Contact Us
  • Advertise

News

  • Altcoins
  • Bitcoin
  • Ethereum
  • NFT
  • Regulation
  • WEB 3.0

©2024 BTC-PULSE – All right Reserved.

No Result
View All Result
  • About Us
  • Advertise
  • BTC-PULSE
  • Contact Us
  • Events
  • Privacy Policy
  • Sitemap
  • Terms of Service