Shinhan Bank, one of the largest banks in Southeast Asia, has joined the board of directors of blockchain platform Klaytn.
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One of the key features of Klaytn is that it is an open source public blockchain. Klaytn is designed for enterprise-grade scalability and performance.
The most important point of this partnership agreement is that Shinhan Bank will be able to take an active role in the decision-making process within Klaytn.
In addition to participating in the joint management of the Klaytn blockchain, Shinhan Bank will also offer a variety of digital services in developing its financial technology.
The South Korean bank stands out as a global finance leader in digital innovation. Since 2017, the bank has been offering a variety of blockchain-based financial services, including government loans, pensions and derivatives deals.