Discovering Diversified Asset Portfolio Business Models
Kim Cheol-ki, Head of Digital Innovation Group at Shinhan Bank, Pete Najarian, Chief Risk Officer (CRO) of BitGo, and Kim Jun-hong, CEO of Korea Digital Asset Custody (KDAC), are signing a business agreement on the 27th via video conference to establish a cooperative system in the digital asset sector.
[Asia Economy Reporter Kwangho Lee] Shinhan Bank announced on the 28th that it has signed a memorandum of understanding (MOU) to establish a cooperative system in the digital asset sector with BitGo, a U.S. digital asset financial services company, and Korea Digital Asset Custody (KDAC), a custody specialist company.
The signing ceremony, held via video conference, was attended by Kim Cheol-gi, Head of Digital Innovation Group at Shinhan Bank, Pete Nazarian, Chief Risk Officer (CRO) of BitGo, and Kim Jun-hong, CEO of KDAC.
Through this agreement, the three companies plan to promote the provision of custody services and the development of custody solutions for digital assets, including virtual assets. They also intend to gradually expand their cooperation base with various external partners such as global virtual asset operators.
Meanwhile, BitGo is the world's largest company handling over 20% of global Bitcoin transactions and has secured more than 400 institutional clients worldwide. In particular, it offers a service that allows digital assets to be custodied in a 100% offline environment for clients in the Asia region. In Japan, 25% of virtual asset exchanges approved by the Financial Services Agency (FSA) already use this service.
Kim, the head of the group, said, "Through the cooperation of the three companies, we plan to focus on custody service capabilities for institutional investors," adding, "We will continuously discover business models that can improve customer convenience and diversify asset portfolios through partnerships."
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