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Delio unveils South Korea's first 'crypto bank'

Delio unveils South Korea's first 'crypto bank'

South Korea's Delio, has launched the country's first cryptocurrency bank, offering a money market deposit account (MMDA) that enables crypto deposit and withdrawal at any time.

Founded in 2018, Delio already offers a host of crypto-related services but says that it now has a virtual asset service provider (VASP) certificate, enabling it to move into areas such as deposits, loans and asset transactions.

The MMDA account enables the deposit and withdrawal of crypto assets at any time and offers daily compound earnings regardless of the performance when storing Bitcoin, Ethereum, and Ripple.

Delio is also opening a branch offering things like an "economic salon" and "crypto academy" in Seoul’s Gangnam district, the centre of the Korea’s crypto industry.

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