December 11, 2023

4 out of 5 top banks in South Korea offer crypto services

4 out of 5 top banks in South Korea offer crypto services

Two more banks in South Korea have decided to add a cryptocurrency storage service.

Woori and Shinhan Banks Announce Plansdevelopment of a “platform for storing cryptocurrencies”. This means that out of the top five banks in the country, four have already started working with crypto.

Shinan Bank had already planned to add such a service in 2017, but in January 2018 these plans were stopped by the Korean government.

The largest bank in the country KB Kookmin announced itsplans to launch a crypto-custodian service in the spring of last year. At the moment, KB Kookmin is successfully working in the direction of storing crypto assets.

Recall that last month, the South Korean government approved a bill according to which all profits from cryptocurrency transactions are now taxed.

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Based on materialscointelegraph.com