{"id":150081,"date":"2023-09-05T16:23:26","date_gmt":"2023-09-05T10:53:26","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=150081"},"modified":"2023-09-05T16:23:26","modified_gmt":"2023-09-05T10:53:26","slug":"south-korean-hana-bank-enters-crypto-custody-business-with-bitgo-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/south-korean-hana-bank-enters-crypto-custody-business-with-bitgo-crypto-news\/","title":{"rendered":"South Korean Hana Bank enters crypto custody business with BitGo &#8211; Crypto News"},"content":{"rendered":"<div data-v-2649fa34=\"\">\n<p>One of the largest South Korean banks, KEB Hana Bank, is moving to offer digital asset custody services through a new partnership with major cryptocurrency custody firm BitGo Trust Company.<\/p>\n<p>KEB Hana Bank has signed a strategic business agreement with BitGo to jointly establish digital asset custody in South Korea, local news agency Yonhap <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.yna.co.kr\/view\/AKR20230905075300002\">reported<\/a>. The commercial bank has a network of 111 branches with local banking assets of nearly $10 billion and equity of $490 million.<\/p>\n<p>Hana Bank representatives reportedly announced the news on Sept. 5 at the cryptocurrency industry conference, Korea Blockchain Week.<\/p>\n<p>As part of the collaboration, the parties will establish a joint venture featuring BitGo\u2019s custody solutions and Hana Bank\u2019s financial service and compliance expertise.<\/p>\n<p>\u201cBy promoting digital asset custody business together with global partners, we expect to contribute to strengthening trust in the domestic digital asset market and consumer protection,\u201d a Hana Bank executive reportedly said.<\/p>\n<p>BitGo CEO Mike Belshe noted that the firm will focus on its capabilities of enhancing transparency and security in the South Korean digital asset industry.<\/p>\n<p>Hana Bank and BitGo <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/forkast.news\/headlines\/south-koreas-hana-bank-bitgo\/\">plan<\/a> to launch their joint cryptocurrency custody venture in the second half of 2024, according to online reports.<\/p>\n<p><strong><em>Related: <\/em><\/strong><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/cointelegraph.com\/news\/bitgo-raises-100-million-after-losing-lawsuit-against-galaxy\"><strong><em>BitGo raises $100M after losing lawsuit against Galaxy<\/em><\/strong><\/a><\/p>\n<p>Hana Bank has recently <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/cointelegraph.com\/news\/cds-vs-stablecoins-korean-banks-to-research-the-stablecoins-alternative\">expressed interest in tokenized deposit technology<\/a> as an alternative to private stablecoins and central bank digital currencies. <\/p>\n<p>In July 2023, the bank issued a report alongside local private banks like Woori Bank and Maeli Business News Korea, describing the so-called \u201ccertificate of deposit\u201d tokens that could potentially replace customary notes and deposits without disrupting the traditional banking system.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>One of the largest South Korean banks, KEB Hana Bank, is moving to offer digital asset custody services through a new partnership with major cryptocurrency custody firm BitGo Trust Company. KEB Hana Bank has signed a strategic business agreement with BitGo to jointly establish digital asset custody in South Korea, local news agency Yonhap reported. [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":150082,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[235,203,210,234,231,232,237,238,236,233],"class_list":["post-150081","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain","tag-bitcoin","tag-crypto-currency","tag-elon-musk","tag-ethereum","tag-hyperledger","tag-ibm","tag-mining","tag-nodes","tag-spacex","tag-tesla"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/150081","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=150081"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/150081\/revisions"}],"predecessor-version":[{"id":150084,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/150081\/revisions\/150084"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/150082"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=150081"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=150081"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=150081"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}