South Korean bank tests Bitcoin vault and wallet

posted 12 months ago
Shinhan, the second largest commercial bank in South Korea, by market valuation and consumer base, has initiated the testing phase of its Bitcoin vault and wallet services.

In an official statement provided to Naver, a Shinhan representative said:

“Shinhan is testing a virtual bitcoin vault platform wherein the private keys of Bitcoin addresses and wallets are managed and issued by the bank. The bank intends to provide the vault service for free and charge a fee for withdrawals.”

The integration of a Bitcoin vault and wallet platform into the existing infrastructure of the Shinhan banking system would immediately introduce Bitcoin to the general consumers.
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