South Korea's Woori Bank teams up with BDACS to expand into digital asset custody

South Korean Woori Bank has partnered with BDACS, a digital asset custodian in South Korea, to expand into the digital asset sector. According to News1, the two signed a Memorandum of Understanding (MOU) on Dec. 30 to collaborate on various initiatives, including exploring new business opportunities in the digital asset market, sharing expertise in blockchain technology and cooperating on projects in the virtual asset custody sector. Woori Bank also acquired a stake in BDACS, though the shareholding percentage and investment amount remain undisclosed.