Major Korean Bank to Launch Cryptocurrency Custody Service

Cryptocurrency custody services are all the rage right now, with Coinbase recently launching its own offering for institutional investors. Next it will be the turn of South Koreans to lock down their digital assets thanks to the invervention of Shinhan Bank. As one of the country’s largest financial institutions, Shinhan Bank’s foray into the fray is further evidence of mainstream bitcoin adoption in South Korea. It’s also good news for customers who want to invest in cryptocurrency but don’t relish the responsibility of looking after it.

Korea’s First Ever Bank Wants Your Bitcoin

Since its inception in 1897, then under the name of Hanseong Bank, Korea’s Shinhan Bank has grown to become a behemoth. In 2016 it reported total assets of US $192 billion and over 13,000 employees. As the country’s Naver website reports, Shinhan Bank is poised to open its vault to cryptocurrency holders, who are invited to trial Banknote, its new virtual money deposit service…

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