South Korea’s Shinhan Bank has taken a notable step into the crypto space by launching a suite of cryptocurrency services on its SOL smartphone app.
This initiative introduces real-time price tracking for a variety of digital assets and provides beginner-friendly educational content, marking a first among Korean commercial banks.
Although South Korean banks are currently barred from directly facilitating crypto trades, Shinhan’s introduction of monitoring tools and guides signals growing acceptance within traditional finance.
The bank’s app now offers users a way to track cryptocurrencies like Bitcoin and Ethereum in real time, alongside quizzes and news updates designed to build crypto awareness.
This development sets Shinhan apart from other domestic banks, none of which have yet rolled out similar services.
While five local crypto exchanges hold permits to trade won-crypto pairs, banks are still restricted from offering exchange services themselves.
Shinhan has hinted at future plans to work more closely with its crypto exchange partner Korbit, aiming to enable coin purchases and wallet management through the SOL platform.
SOL is Shinhan Bank’s all-in-one digital platform launched in 2018, combining banking, investment, and financial services.
Now, by integrating cryptocurrency tools, the app offers users an easier way to stay informed about the fast-moving crypto market.
This includes professional crypto reports and interactive guides designed to help those new to the digital asset world make smarter, more informed decisions.
The bank emphasises that the new features aim to "protect consumers" by helping them understand crypto investments better, reflecting a cautious but forward-looking approach to financial innovation.
Earlier this year, Shinhan set up a dedicated digital asset taskforce tasked with developing new crypto-related businesses.
Among its projects are pilots for stablecoin-based overseas remittances and a token-driven cross-border payment system.
The bank has also filed a trademark for KRWSH, a won-pegged stablecoin, positioning itself within South Korea’s growing stablecoin ecosystem.
In May, Korbit announced collaborations with Shinhan to promote corporate crypto transactions, anticipating regulatory changes that will allow larger South Korean companies to hold cryptocurrencies on their balance sheets later this year.
This roadmap by the Financial Services Commission marks a significant shift in the country’s stance toward institutional crypto investment.
Shinhan’s cautious but clear entry into crypto services on a mainstream banking app could inspire other South Korean banks to explore similar offerings.
The integration reflects not only the bank’s desire to expand its digital footprint but also an understanding that customers increasingly expect access to crypto assets alongside traditional financial products.
However, the inherent volatility and regulatory uncertainties around cryptocurrencies mean Shinhan will need robust safeguards.
Balancing innovation with consumer protection remains critical as the bank ventures further into this complex market.
By bridging conventional banking and crypto investment tools, Shinhan is aiming to meet evolving customer needs while preparing for a future where digital assets play a larger role in finance.
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