London Daily

Focus on the big picture.
Monday, Jul 21, 2025

South Korea: Woori Bank To Provide Crypto Custody Services

South Korea: Woori Bank To Provide Crypto Custody Services

South Korean, Woori Bank, announced its plans to enter the DACS (cryptocurrency custody services) market.

One of the largest South Korean financial institution Woori Financial Group will start offering its client cryptocurrency custody services. Woori Bank will partner with the fintech solutions provider Coinplug Inc. to launch the initiative.

Woori Bank’s Journey to Cryptocurrency

The Korean Economic Daily reported that Woori Bank is the next Bank in South Korea to join the DACS market. The institution joined a BTC fintech provider Coinplug Inc, to establish a joint venture (JV).

An official from the Woori Bank commented that digital asset custody had recorded more success among the recent services rendered by Banks in the overseas market.

At its core, digital asset custody allows its providers to reserve cryptocurrencies for companies and individuals in their absence.

There has been an increased demand for digital asset custody services in South Korea. This is because most local firms have now held and trade on different kinds of virtual currencies.

KB Kookmin Bank, the present biggest South Bank, has joined the Digital Assets Custody Services (DACS) market. The bank entered DACS towards the end of 2020 by forming KODA (Korea Digital Asset Co).

Shinhan Bank also adopted the same idea early this year and became Korea Digital Asset Custody Co (KDAC) strategic investor.

Cryptocurrency Custody Services
Major banks in the US have started rendering cryptocurrency custodian services. Cowen Inc is now marked as one of these major banks to join the trending offer.

In collaboration with Standard Custody & Trust Co., the multinational investment bank has started providing custody services called “institutional-grade.” The financial giant and $12B in AUM revealed that this innovation would be available for managers and hedge funds.

The CEO of Cowen-Jeffery Solomon reveals the decision of the Bank ‘ In no distant time, we will assist a lot more of our clients in the institution to overcome the challenges and start digital asset trading. The demand is here.

BNY Mellon–the ancient American bank, announced early this year that it would offer cryptocurrency-related services to its customers.

This New York-based institution explained that it would issue, hold and transfer BTC and other cryptos in honor of its clients in the institution.

Source: South Korea: Woori Bank To Provide Crypto Custody Services – Fintechs.fi

Newsletter

Related Articles

0:00
0:00
Close
Man Dies After Being Pulled Into MRI Machine Due to Metal Chain in New York Clinic
NVIDIA Achieves $4 Trillion Valuation Amid AI Demand
US Revokes Visas of Brazilian Corrupted Judges Amid Fake Bolsonaro Investigation
U.S. Congress Approves Rescissions Act Cutting Federal Funding for NPR and PBS
North Korea Restricts Foreign Tourist Access to New Seaside Resort
Brazil's Supreme Court Imposes Radical Restrictions on Former President Bolsonaro
Centrist Criticism of von der Leyen Resurfaces as she Survives EU Confidence Vote
Judge Criticizes DOJ Over Secrecy in Dropping Charges Against Gang Leader
Apple Closes $16.5 Billion Tax Dispute With Ireland
Von der Leyen Faces Setback Over €2 Trillion EU Budget Proposal
UK and Germany Collaborate on Global Military Equipment Sales
Trump Plans Over 10% Tariffs on African and Caribbean Nations
Flying Taxi CEO Reclaims Billionaire Status After Stock Surge
Epstein Files Deepen Republican Party Divide
Zuckerberg Faces $8 Billion Privacy Lawsuit From Meta Shareholders
FIFA Pressured to Rethink World Cup Calendar Due to Climate Change
SpaceX Nears $400 Billion Valuation With New Share Sale
Microsoft, US Lab to Use AI for Faster Nuclear Plant Licensing
Trump Walks Back Talk of Firing Fed Chair Jerome Powell
Zelensky Reshuffles Cabinet to Win Support at Home and in Washington
"Can You Hit Moscow?" Trump Asked Zelensky To Make Putin "Feel The Pain"
Irish Tech Worker Detained 100 days by US Authorities for Overstaying Visa
Dimon Warns on Fed Independence as Trump Administration Eyes Powell’s Succession
Church of England Removes 1991 Sexuality Guidelines from Clergy Selection
Superman Franchise Achieves Success with Latest Release
Hungary's Viktor Orban Rejects Agreements on Illegal Migration
Jeff Bezos Considers Purchasing Condé Nast as a Wedding Gift
Ghislaine Maxwell Says She’s Ready to Testify Before Congress on Epstein’s Criminal Empire
Bal des Pompiers: A Celebration of Community and Firefighter Culture in France
FBI Chief Kash Patel Denies Resignation Speculations Amid Epstein List Controversy
Air India Pilot’s Mental Health Records Under Scrutiny
Google Secures Windsurf AI Coding Team in $2.4 Billion Licence Deal
Jamie Dimon Warns Europe Is Losing Global Competitiveness and Flags Market Complacency
South African Police Minister Suspended Amid Organised Crime Allegations
Nvidia CEO Claims Chinese Military Reluctance to Use US AI Technology
Hong Kong Advances Digital Asset Strategy to Address Economic Challenges
Australia Rules Out Pre‑commitment of Troops, Reinforces Defence Posture Amid US‑China Tensions
Martha Wells Says Humanity Still Far from True Artificial Intelligence
Nvidia Becomes World’s First Four‑Trillion‑Dollar Company Amid AI Boom
U.S. Resumes Deportations to Third Countries After Supreme Court Ruling
Excavation Begins at Site of Mass Grave for Children at Former Irish Institution
Iranian President Reportedly Injured During Israeli Strike on Secret Facility
EU Delays Retaliatory Tariffs Amid New U.S. Threats on Imports
Trump Defends Attorney General Pam Bondi Amid Epstein Memo Backlash
Renault Shares Drop as CEO Luca de Meo Announces Departure Amid Reports of Move to Kering
Senior Aides for King Charles and Prince Harry Hold Secret Peace Summit
Anti‑Semitism ‘Normalised’ in Middle‑Class Britain, Says Commission Co‑Chair
King Charles Meets David Beckham at Chelsea Flower Show
If the Department is Really About Justice: Ghislaine Maxwell Should Be Freed Now
NYC Candidate Zohran Mamdani’s ‘Antifada’ Remarks Spark National Debate on Political Language and Economic Policy
×