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Korea’s Shinhan Bank has announced that it will be providing Bitcoin-based remittance services for the Korean-China corridor starting in December. The new service will be powered by Streami, which will send Bitcoin between approved partners, purportedly saving customers money and time.

Streami was launched last year to target the Korean and Chinese remittance sector, but the company is also targeting other markets with licenced partners. The startup won an incubator last year which injected $430,000 into its development. It secured a further $2 million in seed funding at the end of 2015.

“At the moment we are only handling the volume ‘out of’ Shinhan Bank,” says Junhaeng Lee, Streami CEO. “We plan to expand into the ‘inbound’ ASAP but it will take some time given the bank pace in system integration & compliance approvals.”

Until digital currency transaction become completely legal, Streami will be transferring money between Bitcoin exchanges in Hong Kong, which will then forward them to a participating Chinese destination for conversion into the local currency for the recipient. Lee says that the firm isn’t dependant on just one or two exchanges, either: “We are using many regulated exchange for on-ramping.”

Shinhan Bank has more than 8,500 employees, 723 branches and more than $251 billion in assets.

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