South Kore kripto Kasası fourth largest Bank to offer

Woori Bank, woori Financial Group, A bitcoin-based fintech solution provider Coinplug, Inc.joint venture with (JV) to create digital asset Storage Services (DAC). With its growing popularity, digital asset storage services are spreading to South Korean institutions.

South Korean Bank KB Kookmin, the largest of the country’s leading banks, was the first to use DAC Haechi Labs Sunday, a local blockchain company, and hashed, a blockchain-focused venture fund. To implement the same, KB had a Korean digital asset company last year. After KB, Shinhan Bank joined the crypto clan in Korea in 2021. Shinhan Bank, Korea digital asset Custody Co. he became a strategic investor in. (KDAC), a DAC company founded by Korbit Digital Asset Exchange.

The latest addition this month is NH Bank’s digital asset storage services and Korea Information and Communications Co. with its entry into its upcoming joint venture (JV) in its own right. and Hexlant, Inc.. blockchain is a startup that develops digital wallet technologies.

“Digital asset storage contracts must meet the same customer identification and money laundering systems currently operated by banks. Unlike a crypto trading company with a high level of uncertainty, banks need to understand that the digital asset storage company is mostly under their control and in their area of expertise,”says Cho Jin Seok, former head of KB at koda, Kookmin Bank, IT, technology and Innovation Center.

DAC joint ventures; low risk and high profit
Korea has seen a significant increase in demand for digital asset storage services as more organizations start investing in cryptocurrencies.

After the 2017 crypto boom, Korea has tightened its regulation of crypto, and to this day, local Korean investors are finding loopholes to actively participate in the crypto community. Requirement for removal of tough rules for Cryp

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