Hana Bank & BitGo Forge Partnership to Secure South Korea's Digital Assets

Hana Bank & BitGo Forge Partnership to Secure South Korea's Digital Assets

In an intriguing development, a prominent South Korean commercial bank, Hana Bank, has made its foray into the cryptocurrency sector by partnering with BitGo, an established crypto custody company with a decade of experience.

The collaboration between Hana Bank of South Korea and BitGo aims to enhance the bank's digital asset custody offerings, with plans to launch these services in the latter half of the upcoming year, according to a report by Forkast.

In this collaborative effort, Hana Bank from South Korea and California-based BitGo are actively exploring the potential establishment of a joint venture. This venture aims to leverage Hana Bank's extensive experience in financial services and compliance, complemented by BitGo's expertise in crypto security.

With this exciting partnership in place, a representative from Hana Bank expressed their commitment to building trust and enhancing consumer protection within the domestic digital asset market.

BitGo's decision to partner with Hana Bank aligns seamlessly with their global expansion strategy, following their recent achievement of $100 million in Series C financing, valuing the company at $1.75 billion. 

Additionally, BitGo is planning to open an office in South Korea towards the end of the next year, once all necessary local compliance requirements are fulfilled, according to reports by Forkast.

Also Read: Swyftx Pioneers Crypto Education: Earn While You Learn

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