{"id":58504,"date":"2023-09-05T05:58:16","date_gmt":"2023-09-05T09:58:16","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=58504"},"modified":"2023-09-05T05:58:19","modified_gmt":"2023-09-05T09:58:19","slug":"keb-hana-bank-bitgo-to-launch-crypto-custody-venture","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/keb-hana-bank-bitgo-to-launch-crypto-custody-venture\/","title":{"rendered":"KEB Hana Bank, BitGo to Launch Crypto Custody Venture"},"content":{"rendered":"\n

KEB Hana Bank, one of the largest banks in South Korea, is set to offer digital asset custody services<\/a> through a new partnership with the leading BitGo Trust Company in the second half of 2024.<\/p>\n\n\n\n

\"KEB
KEB Hana Bank, BitGo to Launch Crypto Custody Venture<\/figcaption><\/figure>\n\n\n\n

Yonhap reported that KEB Hana Bank and BitGo jointly signed a strategic business agreement to establish digital asset custody in South Korea. The commercial bank has 111 branches, nearly $10 billion in local banking assets, and $490 million in equity.<\/p>\n\n\n\n

Hana Bank representatives purportedly announced the news on September 5 at the Korea Blockchain Week industry conference.<\/p>\n\n\n\n

As part of the collaboration, the parties will establish a joint venture incorporating the custody solutions of BitGo and the financial services <\/a>and compliance expertise of Hana Bank.<\/p>\n\n\n\n

A Hana Bank executive said, “By promoting digital asset custody business with global partners, we hope to strengthen consumer confidence in the domestic digital asset market and consumer protection.”<\/p>\n\n\n\n

BitGo's chief executive officer, Mike Belshe, said the company will enhance transparency and security in the South Korean digital asset industry.<\/p>\n\n\n\n

According to online reports, Hana Bank and BitGo plan to initiate their joint cryptocurrency custody venture in the second half of 2024.<\/p>\n\n\n\n

Hana Bank has recently expressed interest in tokenized deposit technology as an alternative to private stablecoins and central bank digital currencies.<\/p>\n\n\n\n

The bank and local private banks such as Woori Bank and Maeli Business News Korea \r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>published a report in July 2023 describing the so-called “certificate of deposit” tokens that could potentially replace conventional currency and deposits without disrupting the traditional banking system.<\/p>\n","protected":false},"excerpt":{"rendered":"

KEB Hana Bank, one of the largest banks in South Korea, is set to offer digital asset custody services through a new partnership with the leading BitGo Trust Company in the second half of 2024. Yonhap reported that KEB Hana Bank and BitGo jointly signed a strategic business agreement to establish digital asset custody in […]<\/p>\n","protected":false},"author":12,"featured_media":58513,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[11104,15200,16305,1712],"class_list":["post-58504","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitgo","tag-crypto-custody-2","tag-keb-hana-bank","tag-south-korea"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2023\/09\/image-7.png","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/58504","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=58504"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/58504\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/58513"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=58504"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=58504"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=58504"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}