The Korea’s second-largest financial institutions, Shinhan bank declares that its process of building cryptocurrency wallets. Since it allows customers to store their digital assets securely.
Noticeable, the project will be soon being ready to launch as Shinhan bank began working on the service. Since it wants to provide a deposit for Bitcoin and other cryptocurrencies. Meanwhile, bitcoiners prefers to hold onto their private keys. Thus, there will not be involvement of any third party to access their wallet.
Zero fee charges
The Shinhan Bank is offering zero fees for deposits and storage upon withdrawal. Since it is grabbing more customers into signing up for services. Further, the bank sets a test server to check out how the service will work before release mobile app. Thus, it keeps the record for viewing deposits and stats information.
Perhaps, in June over 30000 customers of Bithumb having their personal details leaked. Therefore, the bitcoin holders who don’t want the responsibility of storing keys. Thus, a custody service seems a safe bet. It further provides evidence of Bitcoin being embraced by the banking sector it was meant to supplant.
In 2009, the genesis block Bitcoin mine by Satoshi included,
“Chancellor on brink of the second bailout for banks”. Bitcoin arguably started out as a bank killer. Now it’s turning into a bank booster”.