South Korea launched its first crypto bank

South Korea’s digital finance platform, Delio, has unveiled the region’s first cryptocurrency bank as it looks to expand its digital banking offering.

Founded in 2018, Delio already offers several different crypto services for its users, and recently gained its virtual asset service provider (VASP) certificate to allow the challenger bank to move into areas such as crypto deposits, loans and asset transactions. A number of crypto-financial services are also offered, including including savings, lending, asset management, payment, and NFT to the global market.

The bank will now allow users to deposit and withdraw cryptocurrencies and offer daily compound earnings regardless of the performance when storing cryptocurrencies such as Bitcoin, Ethereum, and Ripple.

A Delio official said: “The Delio Bank service is the first case of a Korean company obtaining a virtual asset service provider certificate, with authorisation by the Korean financial authorities to become a digital asset specialised bank.”

Read more at the link: https://delio-io.medium.com/delio-delio-koreas-first-crypto-bank-service-launch-a64fdd9e2173