Hana Financial Group is making significant strides in the digital asset custody market.
On August 20, Hana Financial announced that Bitgo Korea, a joint venture with global digital asset infrastructure firm Bitgo, has completed its registration as a virtual asset service provider (VASP) with the Financial Intelligence Unit (FIU).
This marks the first instance of a global specialized digital asset custody company establishing a separate legal entity in South Korea and receiving VASP registration since the implementation of the virtual asset service provider registration system under the Specific Financial Information Act.
With this registration, Bitgo Korea has laid the institutional groundwork to actively pursue digital asset custody services for domestic institutions and corporations.
Hana Financial previously signed a strategic business agreement with Bitgo in 2023 to develop digital asset custody services and co-founded Bitgo Korea in 2024, participating in equity investment.
The group plans to gradually expand its digital asset custody business by combining Bitgo's globally recognized security technology and operational expertise with its own asset management and risk management capabilities.
A representative from Hana Financial stated, "We will continue to expand our business foundation to connect traditional finance with digital assets in line with the legalization of digital assets."
* This article has been translated by AI.
Copyright ⓒ Aju Press All rights reserved.