BitGo Korea secures VASP registration for institutional crypto custody
Summary
BitGo Korea has obtained VASP registration approval in South Korea, creating a regulatory basis to offer digital asset custody and transfer services to institutional and enterprise clients. The local entity was formed independently rather than by acquiring an existing registered provider, and it says it has built South Korea-specific security, AML, internal control, and operational systems. Hana Financial Group and SK Telecom are strategic shareholders. The approval came just before stricter South Korean VASP entry rules took effect, which increase scrutiny of shareholders and require stronger financial, cybersecurity, internal control, and anti-money-laundering standards.
