South Korean financial giant KEB Hana Bank has entered into a strategic business agreement with California-based crypto custody and security platform BitGo to offer digital asset custody (DAC) services to its clients starting next year. The collaboration was announced during the Korea Blockchain Week conference held in Seoul. Hana Bank, which recently announced its work on CBDC pilot and stablecoin alternatives with the Central Bank of Korea (BOK), will reportedly leverage BitGo’s blockchain security technology for its digital assets custody operations. The services are expected to roll out in the second half of 2024. Both parties will jointly enter the DAC sector, following BitGo’s decision to open a corporation in South Korea.
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