KEB Hana Bank has entered into an agreement with BitGo and the companies plan to jointly launch a custody service next year. To do this, a subsidiary company will be created that intends to use BitGo’s cryptocurrency storage solutions and Hana Bank’s expertise in financial services and compliance with local regulators.
“By creating a custodial crypto business together with foreign partners, we hope to contribute to building confidence in cryptocurrencies in the domestic market, as well as to ensure the protection of users,” a Hana Bank representative promised.
According to BitGo CEO Mike Belshe, the company will try to pay attention to increasing the transparency and security of its business on digital assets.
Recall that in July, the Federation of Banks of Korea introduced new rules to protect holders of virtual assets.
Source: Bits
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