BitoGroup, the parent company of Taiwanese crypto exchange BitoPro, has formed a partnership with Far Eastern International Bank Bankee to launch a “crypto-friendly bank account.” This collaboration aims to facilitate seamless fiat transactions between BitoPro’s customers and traditional banks.

In an announcement shared with crypto.news, BitoGroup CEO Titan Cheng stated that the company expects to increase the average daily transaction amount per user by 25% initially. Cheng also expressed confidence in the potential for “explosive growth” once the service becomes widely available to all customers in Taiwan.

Furthermore, BitoPro has partnered with Neweb Technologies, a third-party payment processor in Taiwan, to introduce BitoPay. This new payment service will enable around 300,000 merchants across Taiwan to accept cryptocurrency payments, significantly expanding the use of digital currencies in everyday transactions.

These initiatives reflect a broader trend of international crypto firms enhancing their educational efforts and infrastructure in Taiwan. In early June, Tether, the largest stablecoin issuer by market capitalization, invested $18.75 million in the Taipei-based crypto exchange XREX to expand USDT-based payment use cases in emerging markets.

Additionally, Tether recently announced a collaboration with the National Taipei University of Technology to advance blockchain and digital asset education in the region. This partnership aims to equip students with comprehensive knowledge and practical skills in blockchain technology, Bitcoin, and stablecoins, preparing them for the evolving digital economy.