Hana Financial, SK Telecom acquire stake in BitGo Korea

SEOUL, Sept. 3 (Yonhap) -- Hana Financial Group Inc. and SK Telecom Co. have acquired shares in BitGo's Korean branch as part of a strategic partnership, the chief executive of the U.S. digital asset trust company said Tuesday.

Hana Financial, a major banking conglomerate in South Korea, purchased a 25 percent stake in BitGo Korea, while telecommunications giant SK Telecom acquired a 10 percent stake, according to Mike Belshe, co-founder and CEO of BitGo.

Belshe made the announcement during the Korea Blockchain Week event held in Seoul.

BitGo Korea said the strategic partnership with Hana Financial and SK Telecom will help the company contribute to the institutionalization of the crypto market here.

nyway@yna.co.kr
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