Revealed at ‘Korea Blockchain Week 2024’,
On the 3rd, global digital asset financial institution BitGo announced that it will participate as a major shareholder in BitGo Korea, the Korean entity established jointly by Hana Financial Group and SK Telecom this year. The photo shows Mike Belshe, CEO of BitGo, speaking at ‘Korea Blockchain Week 2024(KBW 2024)’ on the 3rd. Photo provided by BitGo,
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, On the 3rd, global digital asset financial institution BitGo announced that Hana Financial Group and SK Telecom will participate as major shareholders in BitGo Korea, established earlier this year.,
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, ‘BitGo CEO Mike Belshe announced on the day, “Hana Financial Group and SK Telecom are participating as major shareholders and strategic partners in BitGo Korea, established earlier this year.”‘,
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, “On the same day, Belshe announced this at the main conference of ‘Korea Blockchain Week 2024’ held at the Grand Walkerhill Seoul in Gwangjang-dong, Seoul. In the recent capital increase process of BitGo Korea, Hana Financial Group and SK Telecom each acquired stakes of 25% and 10%, respectively.”,
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, ‘Hana Financial Group and SK Telecom have been engaged in strategic collaboration in various fields. Both companies are also part of the Next Finance Initiative (NFI) Consortium led by NH Investment & Securities.’,
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, ‘Jung Jae-wook, Executive of Hana Financial Group’s AI-Digital Strategy Unit, said, “Hana Financial Group strives to enhance user protection in virtual assets and contribute to the development and activation of the virtual asset market by providing reliable custody services.” ‘,
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, “SK Telecom plans to strengthen its strategic collaboration with BitGo Korea. SKT will combine its know-how in authentication, security, and identity verification to support companies targeting individual customers in making it easier to utilize BitGo’s services.”,
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, ‘Oh Se-hyun, SK Telecom Web3 CO, said, “To secure user trust for the substantial growth of digital asset markets, authentication and security are essential,” adding, “It is expected that SK Telecom’s accumulated certification and security technology will contribute to the custody market in the future.”‘,
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, ‘The strategic stake participation of Hana Financial Group and SKT in BitGo is of great significance for the institutionalization of virtual assets. It is expected that financial institutions-level companies related to custody of financial products such as security token offerings (STO), real-world asset (RWA) linkages, and listed index funds (ETFs) will be able to provide infrastructure in Korea. In fact, BitGo Korea is currently preparing for personnel and facilities for obtaining Information Security Management System (ISMS) certification and applying for Virtual Asset Service Provider (VASP) status.’,
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, ‘Lee Young-ro, the newly appointed representative of BitGo Korea, emphasized, “BitGo will actively introduce its leading technology and operational expertise accumulated in the global market to Korea, contribute to the institutionalization of virtual assets, and take the lead in user protection.”‘,
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, ‘Established in 2013, BitGo holds assets worth around $70 billion (approximately 100 trillion KRW). Its cumulative asset handling volume totals approximately $3 trillion (approximately 4000 trillion KRW). Around 20% of Bitcoin (BTC) traded worldwide is transacted through BitGo’s infrastructure. BitGo was the first to commercialize and standardize multi-sign technology, which has become the standard for virtual asset wallet technology worldwide.’,
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