SK Telecom and Hana Financial Acquire Stake in BitGo’s Korean Branch
Ruholamin Haqshanas is a contributing crypto writer for CryptoNews. He is a crypto and finance journalist with over four years of experience. Ruholamin has been featured in several high-profile crypto...
South Korea’s leading telecom and financial giants, SK Telecom and Hana Financial Group, have become major shareholders in the Korean branch of BitGo.
BitGo CEO Mike Belsh announced the news during the Korea Blockchain Week 2024 event in Seoul, according to a report from Yonhap News Agency.
Hana Financial has acquired a 25% stake in BitGo Korea, while SK Telecom has secured a 10% share.
The collaboration between BitGo and South Korea’s telecom giants aims to bolster the platform’s position in the local market, with a broader goal of advancing the institutionalization of cryptocurrency in South Korea.
Hana Financial plans to enhance the local crypto ecosystem by offering secure and reliable custody services through BitGo.
Meanwhile, SK Telecom will leverage its expertise in user authentication, security, and identity verification to improve the accessibility of BitGo’s services for Korean clients.
Bringing institutional crypto to Korea
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