Cryptocurrency

Pacific

Bank AI

<div class="cryptonews"> 
 <p class="is-style-lead">The South Korean bank KEB Hana Bank closed a new partnership with the cryptocurrency company BitGo to develop crypto custody. </p> 
 <p>The partnership between the two companies will aim to <a rel="noopener noreferrer nofollow" title="develop" href="https://thebittimes.com/tag/develop.html">develop</a> a <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>currency <a rel="noopener noreferrer nofollow" title="custody" href="https://thebittimes.com/tag/custody.html">custody</a> business in South Korea.</p> 
 <p>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.</p> 
 <div class="cn-block-related-link"> 
  <svg class="cn-block-related-link__icon icon" aria-hidden="true"> <use xlink:href="#"></use> 
  </svg> <span class="cn-block-related-link__prefix"> You might also like: </span> South Korea obliges crypto exchanges to hold $2.3m in reserves 
 </div> 
 <h2 class="wp-block-heading" id="cryptocurrency-development-in-south-korea">Cryptocurrency development in South Korea</h2> 
 <p>South Korea’s relationship with <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>currency has been a rollercoaster ride. In the past, the country experienced a surge in the <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> market as stakeholders from the Asia Pacific region flocked to South Korea due to China’s unfriendly stance towards <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>currencies.</p> 
 <p>However, the South Korean government soon began expressing concerns and considering a potential cryptocurrency ban, causing the market to plummet.</p> 
 <p>Despite the initial uncertainty, South Korea has taken steps to regulate and embrace cryptocurrencies. In March 2020, the South Korean National Assembly passed a bill that legalized bitcoin and crypto trading in the country. This move was seen as a positive step towards encouraging mainstream adoption of cryptocurrencies.</p> 
 <p>The government has also shown interest in blockchain technology. South Korea’s government was considering investing $400 million in blockchain research and development to revamp the digital technology sector. This investment aims to support the country’s growth and innovation of blockchain technology.</p> 
 <p>South Korea’s economy has faced challenges but is projected to grow by 2.5% in 2023. The country’s economic growth includes private consumption and construction investment, indicating potential opportunities for the <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>currency market.</p> 
 <div class="cn-block-related-link"> 
  <svg class="cn-block-related-link__icon icon" aria-hidden="true"> <use xlink:href="#"></use> 
  </svg> <span class="cn-block-related-link__prefix"> You might also like: </span> BitGo valued at $1.75b after $100m funding round 
 </div> <span class="google-news-banner__label">Follow Us on Google News</span> 
</div> 
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/south-korean-bank-develops-crypto-custody-together-with-bitgo-tbt61621.html">https://thebittimes.com/south-korean-bank-develops-crypto-custody-together-with-bitgo-tbt61621.html</a></p>

South Korean bank develops crypto custody together with BitGo

Table of Contents

TheBitTimes

Other articles published on Sep 5, 2023

Crypto firm crises bring over $700m to legal professionals

London Stock Exchange Group Explores Blockchain for Cross-asset Digital Ecosystem

AI-Enhanced Scams on the Rise: Web3 Security Guru Warns of New Wave

Pertarungan Platform Perdagangan CFD Memanas, Pembaruan Besar CDEX yang Sedang Naik Daun

KuCoin Announces Title Sponsorship and Headline Speaker for TOKEN2049, Reinforcing Its Commitment...

Jim Cramer Bullish On Binance And BNB, Trouble For CEO CZ?

Join our free newsletter for daily crypto updates!