Shinhan Bank, one of the largest banks in Southeast Asia, has joined the board of directors of blockchain platform Klaytn.
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.