Coinspeaker
Hana Bank Forms Strategic Partnership with BitGo
South Korean financial institution Hana Bank has announced its strategic partnership with crypto custody platform BitGo. According to the Korea Economic Daily report, the duo announced the partnership while speaking at the Korea Blockchain Week in Seoul.
Hana Bank is a top bank in South Korea, with an estimated $2.4 billion net profit, Forkast reports. While the firm is vast in financial services and compliance, BitGo possesses blockchain security expertise. Through the partnership, both firms will look to leverage their strengths through a joint institution.
Consequently, Hana Bank will begin offering its digital asset custody services in the second half of 2024, Forkast reported.
According to a joint press release, “the partnership is expected to be an important turning point in raising the standards of the domestic digital asset market to a global level”. Also, BitGo and Hana believe it could encourage institutions to
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