Taiwan to Launch Bitcoin Custody Trials with Local Banks in 2025
Taiwan is set to launch Bitcoin custody trials through local banks in 2025, marking a significant step forward in the country’s digital asset approach. The Financial Supervisory Commission is gearing up to collect applications for institutional interest in trialing cryptocurrency custody services in the first quarter of next year.
This move is expected to lead to a surge in institutional crypto adoption in Taiwan, with three private banks already expressing interest in participating in the trials. The pilot project is anticipated to attract a plethora of banks looking to get involved.
The announcement comes at a time when cryptocurrencies are gaining increased relevance in the financial world, with the US seeing the approval of two crypto-based ETFs and the leading asset, Bitcoin, reaching an all-time high price of $73,000 in 2024. As nations around the globe continue to navigate the evolving industry, Taiwan is taking a proactive approach by launching these custody trials.
Interested banks will need to specify which cryptocurrencies they plan to store, with Bitcoin, Ethereum, and Dogecoin being mentioned in the report. It remains to be seen if these will be the only assets included in the pilot project. Additionally, institutions must clarify the type of users they will be targeting, whether general investors or professional ones, as they move towards more comprehensive crypto adoption in Taiwan.
Overall, the launch of Bitcoin custody trials with local banks in 2025 represents a positive development for Taiwan’s digital asset strategy and signals a growing acceptance of cryptocurrencies in the country.
