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BNK Busan Will Offer Banking Services to Local Crypto Exchanges

BNK Busan Will Offer Banking Services to Local Crypto Exchanges
  • South Korea’s BNK Busan plans to offer banking services to crypto exchanges
  • Busan.com reports that BNK Busan is conducting competitor research
  • BNK Busan also considers offering services to small and medium-sized exchanges

South Korea is slowly growing to become a major hub for crypto enthusiasts. There is an ongoing crypto revolution among the biggest players in the country’s banking industry.

Now, another major bank named BNK Busan Bank is examining opportunities to provide banking services for crypto exchanges. The bank recently launched a program that consists of visiting competitors’ banks that already offer services to crypto exchanges.

In an article published by Busan.com, it was reported that the BNK Busan started their research on how their competitors are dealing with crypto exchanges.

In South Korea, banks that offer fiat services to the crypto businesses will soon be bound by laws that compel them to use the Information Security Management System (ISMS) certification.

Because of this, BNK Busan is examining how this system works to give itself an opportunity to offer this service in the future.

According to a report published by Bitcoin.com, “Exchanges like Bithumb already have arrangements with the NH Nonghyup Bank for implementing such a system.”

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Joseph Joestar is a CoinQuora contributor. He works in various blockchain marketing content projects, specializing in written content such as technical whitepapers, press releases, and articles.