A Major Korean Bank Will Soon Launch a Bitcoin Remittance Service
Shinhan Bank, one of the largest financial institutions in South Korea will begin a remittance service – backed by bitcoin – between Korea and China, starting next month. The Korea-China corridor will soon see the bitcoin remittance service made possible through Hong Kong as an intermediary, a country where digital currency transactions are legally allowed, according to Korean news outlet Pulse. Fundamentally, the remittance operation will see Shinhan Bank transfer value to a digital currency exchange in Hong Kong, which will then further the transaction by transferring the value, in....
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