Bank

Secure

DeFi

Planet

<div class="intro-text"> 
 South Korea’s top telecom and financial companies, SK Telecom and Hana Financial Group, have acquired significant ownership stakes in the Korean branch of the U.S. crypto company BitGo. 
</div> 
<a href="https://m-en.yna.co.kr/view/AEN20240903005500320">According to local news outlet Yonhap News Agency, </a>BitGo’s CEO Mike Belshe revealed this at the Korea Blockchain Week 2024 event in Seoul today, September 3, 2024<a href="https://m-en.yna.co.kr/view/AEN20240903005500320">.</a> 
Hana Financial Group now holds a 25% stake in BitGo Korea, while SK Telecom acquired 10%. 
BitGo Korea was <a style="color: #0000ff;" href="https://forkast.news/south-koreas-hana-bank-bitgo/">established</a> earlier this year as a joint venture between BitGo and Hana Bank, following their initial partnership in September of the previous year. Both companies <a style="color: #0000ff;" href="https://www.kedglobal.com/blockchain/newsView/ked202309050017">reportedly</a> collaborated to create a joint venture combining Hana Bank’s expertise in financial services and compliance with BitGo’s strengths in crypto asset management and security. At the time, a representative from Hana Bank stated that the partnership was intended to build trust and enhance consumer protection in South Korea’s digital asset market. 
Meanwhile, this addition of SK Telecom is expected to strengthen BitGo’s presence in the local market and promote the institutionalisation of cryptocurrency in the country. The telecom firm reportedly brings its expertise in user authentication, security, and identity verification to enhance the accessibility of BitGo’s services for clients in Korea. 
This development follows BitGo’s <a style="color: #0000ff;" href="https://defi-planet.com/2024/08/bitgo-receives-license-in-singapore-to-offer-crypto-services/">recent acquisition</a> of a Major Payment Institution License from the Monetary Authority of Singapore (MAS). The licence allows BitGo to offer regulated digital payment token services in Singapore and provide secure custody through insured cold storage and access to liquidity for its clients.&nbsp; 
Youngro Lee, CEO of BitGo Singapore and Head of BitGo Asia, highlighted the licence as a significant step in expanding BitGo’s global presence, ensuring top-tier digital asset solutions for clients across Asia. He also expressed eagerness to work closely with MAS to maintain regulatory compliance. 
&nbsp; 
If you want to read more news articles like this, visit <a style="color: #0000ff;" href="https://defi-planet.com/">DeFi Planet</a> and follow us on <a style="color: #0000ff;" href="https://twitter.com/PlanetDefi">Twitter</a>, <a style="color: #0000ff;" href="https://www.linkedin.com/company/defi-planet/">LinkedIn</a>, <a style="color: #0000ff;" href="https://www.facebook.com/DeFi-Planet-129907662611402">Facebook</a>, <a style="color: #0000ff;" href="https://www.instagram.com/defi.planet/">Instagram</a>, and <a style="color: #0000ff;" href="https://coinmarketcap.com/community/profile/DeFiPlanet/">CoinMarketCap Community</a>. 
“Take control of your crypto portfolio with MARKETS PRO, DeFi Planet’s suite of analytics tools.” 
The post <a href="https://defi-planet.com/2024/09/sk-telecom-and-hana-financial-group-secure-key-shares-in-bitgos-korean-branch/">SK Telecom and Hana Financial Group Secure Key Shares in BitGo’s Korean Branch</a> appeared first on <a href="https://defi-planet.com">DeFi Planet</a>.

SK Telecom and Hana Financial Group Secure Key Shares in BitGo’s Korean Branch

DeFi Planet

Other articles published on Sep 3, 2024

AI glasses could be the next big trend

Blockchain Life 2024 in Dubai: Top Companies and Key Industry Figures Gather in the World Crypto ...

TON Accelerator Launches Support for Blockchain Startups

Behind bars: 6 crypto execs who did time and one who got away…

Historic Drop In Stablecoin Flows! A Worrying Sign For Bitcoin

Bitcoin Increases Its Market Dominance

Join our free newsletter for daily crypto updates!