BitoGroup partners with Far Eastern International Bank to launch first crypto-friendly bank account

BitoGroup announced its partnership with Far Eastern International Bank to launch the world’s first dedicated crypto-friendly bank account. As cryptocurrency adoption by international institutions continues to grow, BitoGroup began serving financial institutions two years ago, becoming the first cryptocurrency exchange to form an alliance with financial institutions.

This partnership promotes integration between traditional banks and third-party payment processors. This represents a significant breakthrough for the financial market and has generated significant interest in Taiwan’s financial sectors. BitoGroup aims to strengthen the cryptocurrency ecosystem by collaborating with large institutions and plays an important role in driving change in financial technology.

The world’s first bank account dedicated to cryptocurrency users is the result of three years of research and effort by BitoGroup

This service was provided by integrating the systems and service processes of the two companies, ensuring compliance with legislation and supervisory measures, and prioritizing user experience.

Titan Cheng, Founder and CEO of BitoGroup: “BitoGroup attaches great importance to the security of member assets, platform stability, and user trading experience. We have received positive feedback from the community since the initial pilot phase. The private account can be linked to BitoPro’s exchange account and transferred to BitoPro’s exchange account in like a clock.” It was installed in a short time, which significantly increased user convenience. In the pilot phase, the average daily transaction amount per user increased by 25%. With more than one million members in Taiwan, we expect huge growth.”

BitoPro also partnered with Taiwan’s largest third-party payment processors, Neweb Technologies, to launch “BitoPay”, which enables 300,000 merchants and millions of members to use cryptocurrency for payments, making “BitoPay” the most widely accepted crypto payment solution in Taiwan. brought.

BitoGroup believes that partnering with large institutions to integrate cryptocurrency use into existing operational systems is not only the best way to promote cryptocurrency use, but also encourages innovation. Initiatives such as replacing marketplace loyalty points with digital currency, enabling cryptocurrency payments through e-commerce third-party payment services, and the recent launch of crypto-friendly accounts all contribute to expanding the existing ecosystem.

“BitoGroup partners with Far Eastern International Bank to launch first crypto-friendly bank account” was first created and published by Retail Banker International, owned by GlobalData.

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