South Korean Bank Woori Financial to Offer Crypto Custody Services
Woori Financial Group, one of the biggest financial conglomerates in South Korea, will offer crypto custody services. The bank will develop a joint venture effort with Coinplug, a blockchain-based developing company. This conglomerate signals the third bank entering the market in the country, after KB Kookmin Bank and Shinhan Bank. Woori Financial to Develop Joint Venture to Offer Custody Services Woori Financial Group, one of the biggest banks in South Korea, will soon offer cryptocurrency custody services. According to reports from Korea Economic Daily, Woori will establish a joint....
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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 […]
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....
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....
The South Korean crypto frenzy among the banking industry remains on fire, as another major bank is treading waters to offer banking services for crypto exchanges. The BNK Busan Bank launched a program that consists of visiting competitors’ banks that already offer it. BNK Busan Is Visting Its Competitors to Conduct the Research According to the Busan.com news outlet, the bank researches how these financial institutions deal with the crypto exchanges amid the forthcoming regulation. As the banks provide fiat services to the crypto businesses, the legislation set to promulgate on....