South Korean Firms SK and Hana Join Forces with BitGo

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Digital asset custody company BitGo has announced the addition of South Korea’s top telecommunications company SK Telecom and leading financial institution Hana Financial as major shareholders and strategic partners of its regional branch.

According to BitGo CEO Mike Belsh, Hana Financial now holds a 25% stake in BitGo Korea, while SK Telecom holds 10%.

BitGo Korea, a joint venture between BitGo and Hana Bank established earlier this year, aims to expand its presence in the local market and pave the way for the institutionalization of cryptocurrency in South Korea.

Hana Financial plans to support BitGo Korea by offering reliable crypto custody services, while SK Telecom will contribute their expertise in user authentication, security, and identity verification to improve BitGo’s services for clients.