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BitoGroup partners with Far Eastern International Bank to launch the first crypto-friendly bank account
BitoGroup announced its partnership with Far Eastern International Bank to launch the world’s first dedicated cryptocurrency bank account. As the adoption of cryptocurrencies 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. It represents a significant breakthrough for the financial market and has attracted considerable interest in Taiwan’s financial sectors. By partnering with large institutions, BitoGroup aims to strengthen the cryptocurrency ecosystem and plays a crucial 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 created by integrating the systems and service processes of the two companies, while ensuring compliance with regulations and supervisory measures and giving priority to the user experience.
Titan Cheng, Founder and CEO of BitoGroup: “BitoGroup places great emphasis on the security of member assets, platform stability and user transaction experience. Since the initial pilot phase, we have received positive feedback from the community. The account dedicated can be connected to BitoPro’s exchange account and set up in just one hour, significantly improving user convenience. During the pilot phase, the average daily transaction amount per user increased by 25%. one million members in Taiwan, we expect explosive growth once the service is officially launched.”
BitoPro also collaborated with Taiwan’s largest third-party payment processors, Neweb Technologies, to launch “BitoPay”, enabling 300,000 merchants and millions of members to use cryptocurrency for payments, making “BitoPay” the payment solution most widely accepted crypto in Taiwan.
BitoGroup believes that collaborating with large institutions to integrate the use of cryptocurrency into existing operating systems is not only the best way to promote the use of cryptocurrency, but also fosters innovation. Initiatives such as exchanging convenience store loyalty points for digital currency, enabling cryptocurrency payments through third-party payment services for e-commerce, and the recent launch of crypto-friendly accounts, all help expand the ecosystem existing.
“BitoGroup Partners with Far Eastern International Bank to Launch First Crypto-Friendly Bank Account” was originally created and published by International retail bankera trademark owned by GlobalData.
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