BitoGroup collaborates with Far Eastern International Bank ‘Bankee’ to launch the world’s first dedicated crypto-friendly bank account.
BitoGroup, the parent company of the Taiwanese cryptocurrency exchange BitoPro, has partnered with the regional digital bank Far Eastern International Bank Bankee to handle fiat transactions between the exchange’s clients and banks.
BitoGroup CEO Titan Cheng stated in a press release that the company’s initial goal is to raise the average daily transaction value per user by 25%. Additionally, Cheng was upbeat about the service’s potential for “explosive growth” if it becomes completely available to all Taiwanese users.
Furthermore, BitoPro and Neweb Technologies, a Taiwanese third-party payment processor, have teamed up to introduce BitoPay, a payment service that will let about 300,000 businesses in Taiwan accept cryptocurrency payments.
The most recent events highlight a larger pattern of foreign cryptocurrency companies improving infrastructure and educational initiatives in Taiwan. At the beginning of June, Taipei-based cryptocurrency exchange XREX received a $18.75 million investment from Tether, the largest stablecoin issuer by market capitalization to increase the number of applications for USDT-based payments in developing nations.
Tether also recently declared it would collaborate with the National Taipei University of Technology to support the region’s blockchain and digital asset education. The collaboration seeks to give students in-depth understanding and useful skills in stablecoins, Bitcoin, and blockchain technology.
