BitGo, the global digital asset custody firm, has formed significant partnerships with South Korea's telecom giant SK Telecom and leading financial institution Hana Financial. These companies have become major shareholders in BitGo's regional arm, BitGo Korea. Hana Financial has acquired a 25% stake in BitGo Korea, while SK Telecom holds a 10% stake, as announced by BitGo CEO Mike Belshe during the Korea Blockchain Week 2024 event in Seoul.

BitGo Korea, a joint venture between BitGo and Hana Bank established earlier this year, aims to expand its footprint in the South Korean market with the backing of these two industry leaders. Hana Financial plans to enhance the local crypto sector by offering reliable crypto custody services through BitGo, while SK Telecom will contribute its expertise in user authentication, security, and identity verification to make BitGo's services more accessible to clients.

These partnerships are seen as a step toward the institutionalization of cryptocurrency in South Korea, providing a foundation for broader adoption and integration of digital assets within the country's financial ecosystem.

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