BitGo CEO Sees Institutional Growth Potential in Korea's Crypto Market
The perception that Korea is primarily a retail crypto market overlooks its sophisticated financial institutions and growing demand for regulated digital asset services, according to BitGo CEO Mike Belshe.
BitGo, a US-based global digital asset infrastructure company, has become the first foreign operator to register in Korea as a virtual asset service provider with the Financial Intelligence Unit under the Financial Services Commission.
The company established its own Korean entity in 2024 and holds stakes of 25% and 10% from Hana Financial Group and SK Telecom respectively.
Belshe believes that institutions are doing more than just holding digital assets, they're trading, staking, financing, and moving them. He expects Korea to develop in a similar direction, with its own path.