BitGo CEO Mike Belshe: "Trust Comes First for the Institutional Digital Asset Market to Open" [KBW2026]

[Financial News] "The financial system of the future will be neither fully centralized nor fully decentralized. For institutional investors to enter the global digital asset market in earnest, 'trust' is most important."
Mike Belshe, co-founder and CEO of BitGo, made the remarks at the main conference of Korea Blockchain Week 2026 (KBW2026), held on the 30th at WALKERHILL HOTELS & RESORTS in Seoul. "Blockchain has already provided accessibility, and trust is next," he said.
As the center of gravity in the global digital asset market shifts from retail investors and exchanges to institutions and traditional financial companies, building trust is essential to driving institutional investment in digital assets. As banks, securities firms, asset managers, insurers, and other traditional financial institutions expand their participation in the digital asset market, the broader financial infrastructure—including financial products, trading, clearing, settlement, and custody—is also changing.
Belshe said, "The questions being asked by institutional investors, including banks, concern what comes after accessibility." He stressed, "It will be difficult for institutional investors to enter the market until clear answers are provided about trust infrastructure, including trade execution and settlement."
He outlined three conditions needed to attract institutional investors to the market. "The security of digital assets, including governance and approval procedures, must be built in from the start," Belshe said. "Adding security after a system has already been built is insufficient."
He also emphasized that functions such as custody and credit must be connected while remaining separate. If all functions are concentrated in a single system, the entire system could be paralyzed by just one failure.
Belshe also explained, "In South Korea, these issues must be addressed through South Korean banks and financial institutions." He added, "It must be possible to secure global connectivity while complying with local regulations."
He assessed that South Korea could directly create a model for trust-based digital asset infrastructure. "The expertise and technology developed in South Korea are aimed at the global market," he said, emphasizing, "South Korea's next export could be 'digital asset trust.'"
[email protected] Joo-mi Lee Reporter