Hana Bank Partners with BitGo to Develop Digital Asset Custody Services
Hana Bank, one of South Korea’s major commercial banks, has announced a partnership with BitGo, a well-established crypto custody business. The aim of this collaboration is to develop the bank’s digital asset custody services, which are set to commence in the second half of next year. The partnership was officially announced at Korea Blockchain Week in Seoul.
As part of the partnership, Hana Bank and BitGo are considering the possibility of setting up a joint venture. This would allow them to leverage Hana Bank’s experience in financial services and compliance, as well as BitGo’s expertise in crypto security.
The bank hopes that this partnership will enhance trust and contribute to consumer protection in the domestic digital asset market. This aligns with BitGo’s global expansion strategy, following its recent $100 million Series C financing. The company plans to use the funds for strategic acquisitions and global expansion, including the launch of an office in South Korea late next year.
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