{"id":149904,"date":"2023-09-05T10:42:49","date_gmt":"2023-09-05T05:12:49","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=149904"},"modified":"2023-09-05T10:42:49","modified_gmt":"2023-09-05T05:12:49","slug":"south-koreas-hana-bank-partners-with-bitgo-on-digital-asset-services-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/south-koreas-hana-bank-partners-with-bitgo-on-digital-asset-services-crypto-news\/","title":{"rendered":"South Korea\u2019s Hana bank partners with BitGo on digital asset services &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div>\n<p>KEB Hana Bank, one of South Korea\u2019s largest financial institutions, will offer digital asset custody services from the latter half of 2024. The bank, which has total assets of <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.hanafn.com\/ir\/financial\/summary\/importantDetail.do\">US$448 billion<\/a>, made the announcement Tuesday at Korea Blockchain Week in Seoul. It will partner with digital asset custody custody provider BitGo Trust Company on the project.<\/p>\n<p><strong><em>See related article: <\/em><\/strong><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/forkast.news\/why-asia-will-emerge-as-the-global-hub-for-web3-gaming-opinion\/\">Why Asia will emerge as the global hub for Web3 gaming: Opinion<\/a><\/p>\n<h2 class=\"wp-block-heading\">Fast facts<\/h2>\n<ul>\n<li>Hana\u2019s new digital asset custody services will operate using BitGo\u2019s blockchain security technology. The two companies did not provide any further information on the services the partnership will provide.<\/li>\n<li>\u201cThe partnership is expected to be an important turning point in raising the standards of the domestic digital asset market to a global level and encouraging institutional participation in the market,\u201d the joint press release from Hana and BitGo said.<\/li>\n<li>Hana is one of South Korea\u2019s top five banking institutions, having earned a net profit of over 3.16 trillion Korean won (US$2.4 billion) last year.<\/li>\n<li>Digital asset custodian BitGo has clients, including Nike, in over 50 countries. The California-based company said in the press release that it has decided to expand in South Korea given the country\u2019s favorable regulatory environment.<\/li>\n<li>BitGo is also launching an office in South Korea in the latter half of 2024, after preparing the necessary licenses under local regulations. Last month, the company <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.bitgo.com\/newsroom\/press-releases\/bitgo-secures-usd100m-series-c-funding-at-usd1-75b-valuation\/\">completed<\/a> a US$100 million Series C funding round, with its valuation standing at US$1.75 billion.\u00a0<\/li>\n<li>In July, South Korea\u2019s Financial Services Commission <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.hankyung.com\/article\/202307134119g\">announced<\/a> that it will push to amend the electronic securities laws to include blockchain-powered security tokens within its regulatory framework.<\/li>\n<\/ul>\n<p><strong><em>See related article:<\/em><\/strong> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/forkast.news\/headlines\/south-korea-guideline-crypto-securities\/\">South Korea issues guideline on cryptocurrencies as securities tokens ahead of planned legalization<\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>KEB Hana Bank, one of South Korea\u2019s largest financial institutions, will offer digital asset custody services from the latter half of 2024. The bank, which has total assets of US$448 billion, made the announcement Tuesday at Korea Blockchain Week in Seoul. It will partner with digital asset custody custody provider BitGo Trust Company on the [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":149905,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,248,251,246,257,255,250,252,247,253,249,256,254],"class_list":["post-149904","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-cryptocurrency","tag-gta","tag-looks-rare","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/149904","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=149904"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/149904\/revisions"}],"predecessor-version":[{"id":149906,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/149904\/revisions\/149906"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/149905"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=149904"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=149904"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=149904"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}