Written by Ezra Reguerrastaff writerReviewed by Yohan Yunstaff editor

Written by Ezra Reguerrastaff writer

Reviewed by Yohan Yunstaff editor

BitGo Korea secures VASP registration for institutional crypto custody

Latest NewsPublishedAug 20, 2026

Regulators reportedly accepted BitGo Korea’s registration on Tuesday, two days before stricter VASP entry requirements took effect.

BitGo Korea has secured a virtual asset service provider (VASP) registration in South Korea, providing a regulatory foundation to offer digital asset custody services to institutions. 

On Thursday, BitGo revealed that the Korea Financial Intelligence Unit accepted its local entity’s VASP registration, allowing it to provide virtual asset custody and transfer services to institutional and enterprise clients. 

The company stated it established the local entity instead of acquiring an existing registered provider and stated it had built security, anti-money laundering, internal control and operational frameworks tailored to South Korean requirements. 

Hana Financial Group and telecommunications company SK Telecom are strategic shareholders in BitGo Korea.

The registration was accepted on Tuesday, as reported by Yonhap News Agency, two days before South Korea’s stricter entry requirements for VASPs took effect. 

as reported by the country’s Financial Services Commission, the updated rules expand scrutiny of shareholders and require applicants to satisfy financial soundness, cybersecurity, internal control and AML standards.  

BitGo did not immediately respond to Cointelegraph’s request for additional details.

Related: BitGo posts $19M Q2 loss despite 80% revenue surge to $4.3B

Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.

• South Korea
• Asia
• Institutions
• Regulation

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