BitoPro teams up with local bank to open ‘crypto-friendly bank account’ in Taiwan

BitoPro’s parent company BitoGroup has entered into a partnership agreement with Far Eastern International Bank Bankee to launch “crypto-friendly bank account.”

BitoGroup, the parent company of Taiwanese crypto exchange BitoPro, has teamed up with the local digital bank Far Eastern International Bank Bankee to process fiat transactions between the exchange’s customers and banks.

In a press release seen by crypto.news, BitoGroup CEO Titan Cheng said that initially, the company is expecting to increase the average daily transaction amount per user by 25%. Cheng also expressed optimism about the potential for “explosive growth” once the service is fully accessible to all Taiwanese customers.

Additionally, BitoPro has partnered with Neweb Technologies, a third-party payment processor in Taiwan, to launch BitoPay, a payment service that would enable approximately 300,000 merchants across Taiwan to accept crypto payments.

The latest developments underscore a broader trend of international crypto firms enhancing educational efforts and infrastructure in Taiwan. In early June, Tether, the largest stablecoin issuer by market capitalization, invested $18.75 million in Taipei-headquartered crypto exchange XREX to expand use cases for USDT-based payments in emerging markets.

Additionally, Tether also recently announced it would be joining forces with the National Taipei University of Technology to bolster blockchain and digital asset education in the region. The partnership aims to equip students with comprehensive knowledge and practical skills in blockchain technology, Bitcoin, and stablecoins.