BitGo Korea Secures VASP Registration for Crypto Custody

BitGo Korea has secured a virtual asset service provider registration from South Korea's Financial Intelligence Unit, allowing the cryptocurrency custody firm to offer digital asset services to institutional clients in the country. The approval, announced on August 20, 2026, was accepted on August 18, just two days before stricter regulatory requirements for VASPs took effect.

The registration marks a significant regulatory milestone for the U.S.-based company, which established a local entity in 2024 rather than acquiring an existing registered provider. BitGo Korea plans to provide custody and transfer services to financial institutions and corporate customers, though the company has not disclosed a launch date, supported assets, or specific pricing details.

"We will focus on connecting global virtual asset infrastructure with the Korean market," said BitGo CEO Mike Belshe, according to a translated statement reported by Yonhap News Agency.

The approval makes BitGo Korea the first local entity owned by an overseas crypto company to complete the VASP registration process directly. South Korea treats VASP approval as a registration rather than a general financial services...