Major Korean Bank Set To Provide Cryptocurrency Custody Services
Woori Bank, the South Korean financial institution, enters the DACS (cryptocurrency custody services) market. The Woori Financial Group will start offering its client cryptocurrency custody services. It is among the largest South Korean financial institutions. Related Reading | Nifty’s Inc. Partners With Warner Bros To Roll Out A Social NFT Platform The banking unit of […]
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An increasing number of leading South Korean banks are establishing joint ventures with minor ownership to enter the crypto custody market while complying with local regulations. According to a July 11 report from The Korean Economic Daily, the group’s banking unit, Woori Woori Financial Group has become the latest major South Korean financial institution to announce it will launch digital asset custody services.Bank, is partnering with Bitcoin-based fintech solution firm, Coinplug, to establish a digital asset custody joint venture, dubbed D-Custody. Coinplug will be D-Custody’s largest....
US Bank has launched its cryptocurrency custody services. “Investor interest in cryptocurrency and demand from our fund services clients have grown strongly over the last few years,” the bank said.
US Bank’s Crypto Custody Services Now Live
U.S. Bank announced Tuesday that its cryptocurrency custody services are now live and available to its Global Fund Services clients.
U.S. Bancorp, with nearly 70,000 employees and $559 billion in assets as of June 30, is the parent company of U.S. Bank, the fifth-largest bank in the country. The....
A major commercial bank in South Korea is entering the crypto business by allocating an equity investment in the Korea Digital Asset Trust (KDAC). Shinhan Bank is looking to offer digital asset custody services. Bank Expects to Offer Tech Capabilities to Face Defi-Related Hacking Risks According to inews24, the bank announced the investment in the KDAC, a joint-venture custody company founded by a local crypto exchange, Korbit, blockchain firm Blocko and crypto researcher Fair Square Lab. The Shinhan Bank spokesperson stated that their upcoming crypto-related services are suitable for an....
South Korea’s Shinhan Bank has invested in a crypto custody service backed by local crypto exchange Korbit. Shinhan Bank, the oldest banking institution in South Korea, continues its efforts to introduce digital asset custody services with a new investment.According to a Jan. 7 report by news agency Yonhap, Shinhan Bank has invested in Korea Digital Asset Trust, or KDAC, an industry consortium of businesses that provide digital asset custody. The initiative was launched by Korbit in collaboration with blockchain startup Blocko and digital asset research company Fair Square Lab.With the new....
Compliance and regulations become more important than ever before for banks and traditional institutions that offer support for digital assets. More and more traditional banks have started announcing support for digital assets as the price of Bitcoin (BTC) continues to make headlines for record-breaking all-time highs. Even major banks like JPMorgan Chase, which previously frowned upon Bitcoin, have taken a newfound interest in the cryptocurrency. Contrary to what Goldman Sachs stated recently, JPMorgan’s strategists have noted that “the price of gold would suffer from a structural flow....