South Korea will be an attractive market for Bitcoin, assuming the digital currency can gain any traction in that region over the coming years. If it is up to Daishin and Coinone, that might become a reality a lot sooner than people would think.

Also read: Russian Lawmaker Believes Terrorism is Frequently Financed via Digital Currencies

Digital Currency In South Korea

TheMerkle_South Korea Bitcoin Blockchain

Cooperation in the Bitcoin and blockchain world is the key to success if the digital currency is destined to go mainstream in the coming years. However, that sounds a lot easier than it really is, as various countries are actively opposing the concept of Bitcoin and blockchain these days. South Korea would certainly fit into this category for the time being, but that might be about to change.

A recent Memorandum of Understanding between several Bitcoin companies will help boost the digital currency ecosystem in South Korea in the coming years. Daishin Securities and Coinone both put their signature on this important document, which was signed at the Daishin Securities headquarters in Seoul a few days ago.

This Memorandum is a significant step forward for the Bitcoin and blockchain ecosystem, as Daishin Securities is one of the largest companies in South Korea. Keeping in mind how they are active in the world of investment banking and securities. Additionally, Coinone is a blockchain startup, and they run a Bitcoin exchange platform in the Asian region.

The first step of this new partnership will lead to the launch of a Korean Won Bitcoin exchange shortly. Moreover, all Daishin Securities customers will be given access to multisignature Bitcoin wallets. Once this stage has been completed,  the development of various Bitcoin and blockchain-based services will commence although no further details were revealed at the time of writing.

With various Asian countries focusing their attention on FinTech and innovation, it only makes sense to explore the boundaries of Bitcoin and blockchain in the coming years. Modernising finance will take quite some time, and exploring the benefits of blockchain technology is a positive move in the right direction.

Source: Business Korea

Images credit 1,2

If you liked this article follow us on Twitter @themerklenews and make sure to subscribe to our newsletter to receive the latest bitcoin and altcoin price analysis and the latest cryptocurrency news.