Korean Banks Hate Cryptocurrencies Yet Still Invest in Them
July 10, 2018
Recent report of the South Korea’s Central Bank has proved that local financial institutions are still pessimistic about the future of cryptocurrencies despite they hold about $2 billion in digital coins.
Compared to the total sum of all institutional investments cryptocurrencies made 8% of the $23 billion owned by broker companies in South Korea, as Yonhap News informs.
But though holding $1.8 billion in crypto financial giants are still away from the future of the crypto asset market.
“The amount of crypto-asset investment is not really big, compared with other equity markets, and local financial institutions’ exposure to possible risks of digital assets is insignificant. Against this backdrop, we expect crypto-assets to have a limited impact on the South Korean financial market”, the report runs.