South Korean Hana Bank Enters Crypto Custody Business with BitGo

One of the largest banks in South Korea, KEB Hana Bank, is set to expand its services by introducing digital asset custody through a new partnership with the prominent cryptocurrency custody firm BitGo Trust Company.

KEB Hana Bank has entered into a strategic business agreement with BitGo to collaboratively establish digital asset custody services within South Korea, as reported by local news agency Yonhap. With a network of 111 branches, the commercial bank holds local banking assets close to $10 billion and has equity of $490 million.