California-based crypto custody company BitGo has announced a partnership agreement with KEB Hana Bank, one of South Korea’s leading financial institutions. This agreement will focus on security solutions and technological connections and will help in the development of custody services in the second half of 2024.
Quick Response from South Korea to Society’s Interest in Crypto
Hana Financial Group, one of the five largest financial groups in South Korea, announced that there will be a partnership between KEB Hana Bank and crypto custodian BitGo by the end of 2024. According to Forkast’s report, both companies made a joint statement during the ongoing Korea Blockchain Week in Seoul.
According to reports from Korea Economic Daily, this collaboration agreement includes not only security protocols but also technological integrations and a potential joint venture.
KEB Hana Bank had previously invested in crypto and Web3 technologies. This partnership with BitGo seems to align with South Korea’s fascination with technology.
BitGo plans to open an office in Korea in the second half of next year, after obtaining the necessary licenses in compliance with local regulations.