Taiwan to trial crypto custody services through local banks in 2025

Taiwan Advances Institutional Cryptocurrency Adoption

Taiwan's Financial Supervisory Commission (FSC) plans to pilot crypto storage services through local banks. The FSC anticipates starting the application process in early 2025. Three private banks have already indicated interest in participating.

FSC Guidelines for Crypto Custody Trial

As per the FSC's explanatory information, financial institutions applying for the trial must specify the types of crypto assets they will store, including Bitcoin (BTC), Ether (ETH), and Dogecoin (DOGE). They must also identify their target users (e.g., professional investors, general investors, crypto platforms).

Public Engagement and Feedback

FSC Director Hu Zehua announced that the authority expects to make relevant information public 15 days prior to accepting applications. The FSC will gather public feedback and make necessary adjustments to the trial process.

Ongoing Development

This article is subject to updates as more information becomes available.