BitGo said it has secured a virtual asset license in South Korea and described itself as the first global crypto company to do so. The company said BitGo Korea was built as a locally registered entity from the ground up, instead of entering the market through an acquisition. It added that the Korean operation is backed by Hana Financial Group and SK Telecom. According to the report, the local business is aimed at institutional and enterprise clients. The source summary did not include additional details on the specific license scope or rollout timeline.
BitGo said it has secured a virtual asset license in South Korea, adding that it is the first global crypto company to do so.
Rather than using an acquisition to enter the market, BitGo Korea built a locally registered entity from scratch. The company said the business is set up to serve institutional and enterprise clients.
The Korean unit is backed by Hana Financial Group and SK Telecom. The source summary did not provide further details about the license.
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