7/12/2021 2:18:44 AM GMT
Given the growing demand for digital asset custody in South Korea, a leading bank has decided to foray into the cryptocurrency industry.
Domestic firms are not allowed to store their crypto assets at exchanges and are left with the option of self-custody.
This comes at a time when Korean companies are increasingly holding digital currencies for a variety of purposes.
One of the largest banks in South Korea, Woori Financial Group, has ventured into the cryptocurrency industry.
Demand for crypto custody surges in South Korea
Woori Financial Group is one of the latest South Korean banks to provide services relating to digital assets. The bank is setting up a cryptocurrency custody joint venture with Bitcoin and blockchain services firm Coinplug Inc.
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