Banking/FinanceNews

Koreans Shinhan Bank to declare crypto wallet service

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.

Also Read: Bank of Korea Criticized for Poor Crypto Research

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”.

Read Next: Bitcoin Cash surges-Korean crypto exchange grieves outages

Tags
Show More

Elena R

Elena is an expert in technical analysis and risk management in cryptocurrency market. She has 10+year experience in writing - accordingly she is avid journalists with a passion towards researching new insights coming into crypto erena.

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

three × two =

Back to top button
Close
whatsapp