BitoGroup, Taiwan’s pioneering cryptocurrency market leader, has joined forces with Far Eastern International Bank Bankee to launch the world’s inaugural dedicated crypto-friendly bank account. This groundbreaking initiative marks a pivotal moment in the financial sector, bridging the gap between traditional banking systems and digital assets amid increasing global crypto adoption.
The collaboration between BitoGroup and Bankee represents the culmination of three years of intensive research and development, aimed at integrating seamless crypto transactions within a regulated framework. This innovative service allows users to link their Bankee dedicated account directly to BitoPro’s exchange platform in as little as one hour, significantly enhancing transaction convenience and security.
“Security, stability, and user experience are paramount for both BitoGroup and Bankee,” affirmed Titan Cheng, Founder and CEO of BitoGroup. “We are thrilled by the positive reception during our pilot phase, where we saw a notable 25% increase in daily transaction volumes per user. With over one million members in Taiwan, we anticipate exponential growth upon official launch.”
Cheng underscored the significance of fostering trust and confidence within the cryptocurrency community through strategic partnerships with established financial institutions. The new Bankee account not only enhances transactional ease but also aims to dispel concerns surrounding crypto-related scams, setting a new standard for industry collaboration.
In addition to the Bankee partnership, BitoPro has forged alliances with Taiwan’s largest third-party payment processors, Neweb Technologies, to introduce “BitoPay.” This pioneering solution enables cryptocurrency payments across 300,000 merchants, positioning it as Taiwan’s most widely accepted crypto payment platform.
The announcement comes as Taiwan’s cryptocurrency sector undergoes regulatory evolution with the establishment of the Virtual Asset Service Provider (VASP) Association. Titan Cheng, recognized as a driving force in the industry, has been appointed as the inaugural Chairman of the VASP Association, underscoring BitoGroup’s leadership in shaping the future of digital finance.
Founded in 2014, BitoGroup remains dedicated to leveraging blockchain technology to democratize finance through platforms such as BitoPro, BELS for NFTs, and O2 META for metaverse engagement. This latest initiative with Bankee marks a significant step towards mainstream adoption of cryptocurrencies, paving the way for a more inclusive and integrated financial ecosystem.
Source: BitoGroup
