The Taiwanese government is seeking to accelerate the integration of cryptocurrency into financial institutions by proposing a pilot program for crypto storage services to be offered through local banks.
According to local news outlet Central News Agency, the Financial Supervisory Commission (FSC) of Taiwan plans to launch this institutional trial in the first quarter of 2025.
While the application process is yet to begin, three private banks in Taiwan have already expressed interest in participating.
The FSC has also stated that banks applying for the trial must specify the type of cryptocurrencies they plan to store, such as Bitcoin, Ether, or Dogecoin, along with the target audience of their services, which can include professional or general investors, crypto asset platforms, or other types of users.
