Woori Financial Group, one of the largest banking companies in South Korea, moves to digital asset custody.

According to a report by The Korea Economic Daily, the bank is setting up a joint custody venture with Coinplug, one of the first bitcoin (BTC) exchanges in South Korea and a blockchain-based financial services provider.

The report says Coinplug will become the largest shareholder in the joint venture with Woori Bank, which will become the second largest shareholder. Custody allows Korean firms to invest in cryptocurrency without touching the asset itself.

Woori follows other Korean banks such as KB Kookmin and Nonghyup Bank in crypto custody as South Korean legislators draft cryptocurrency legislation and the country’s Financial Services Commission implements anti-money laundering measures.