BitGo Korea secures VASP registration for institutional crypto custody
Regulators reportedly accepted BitGo Korea’s registration on Tuesday, two days before stricter VASP entry requirements took effect.
BitGo Korea has secured a virtual asset service provider (VASP) registration in South Korea, providing a regulatory foundation to offer digital asset custody services to institutions.
On Thursday, BitGo announced that the Korea Financial Intelligence Unit accepted its local entity’s VASP registration, allowing it to provide virtual asset custody and transfer services to institutional and enterprise clients.
The company said it established the local entity instead of acquiring an existing registered provider and said it had built security, anti-money laundering, internal control and operational frameworks tailored to South Korean requirements.