South Korean bank develops crypto custody together with BitGo
The South Korean bank KEB Hana Bank closed a new partnership with the cryptocurrency company BitGo to develop crypto custody. The partnership between the two companies will aim to develop a crypto currency custody business in South Korea. KEB Hana Bank has 111 branches with $10 billion in assets and $490 million in equity. The commercial partnership will establish a joint venture between the two entities, mixing BitGo’s custody solutions with Hana Bank’s financial services. You might also like: South Korea obliges crypto exchanges to hold $2.3m in reserves Cryptocurrency development in South Korea South Korea’s relationship with crypto currency has been a rollercoaster ride. In the past, the country experienced a surge in the crypto market as stakeholders from the Asia Pacific region flocked to South Korea due to China’s unfriendly stance towards crypto currencies. However, the South Korean government soon began expressing concerns and considering a potenti...