Shinhan Bank, one of South Korea’s largest commercial banks, has signed a memorandum of understanding (MoU) with to blockchain companies to develop a blockchain-based security solution.
Local news outlet The Korea Times reported that Shinhan Bank will be working with Ground X,
Shinhan Bank, one of South Korea’s largest commercial banks, has introduced a blockchain-based loan system to speed up the loan process.
South Korean news outlet Yonhap reported the new system uses blockchain technology to verify proof documents submitted by borrowers during “non-face-to-face” lending.
Shinhan Bank, one of South Korea’s largest commercial banks, has integrated blockchain technology in its financial services and internal protocol management to reduce human error.
The blockchain project, spearheaded by Shinhan Bank CEO Wi Sung-ho, is part of the bank’s digital transformation.
Shinhan Bank, one of South Korea’s largest commercial banks, has formed an alliance with KT Corporation, South Korea’s largest telephone company, to jointly develop a blockchain service.
Headquartered in Seoul, Shinhan Bank was the first bank in Korea,
Shinhan Bank, one of South Korea’s largest commercial banks, has teamed with FinTech firm Omise and its blockchain payments platform OmiseGo to accelerate the adoption and implementation of blockchain technology in Asia.
The companies signed a Memorandum of Understanding (MoU) to establish a framework for the parties to work towards advancing the Shinhan’s digital offerings across its portfolio of payment services and mobile application.
Shinhan Bank, the second largest bank in South Korea, announced it is testing its bitcoin vault and wallet services.
The news comes after the recent hacking attack on Bithumb, one of the largest exchanges in the world operating in Korea.
