Korean cryptocurrency users will soon have an attractive new option for storing their coins. The second largest commercial bank in the country, Shinhan, is testing a virtual bitcoin vault and wallet service. Their current plan is to keep the storage itself free while charging fees for withdrawals and the bank is aiming to release the service in mid-2018.

Why would crypto holders be enticed to keep their money with an established bank? The main incentive appears to be security, as specialized crypto exchanges have shown vulnerability to hacking in the past. The Korean cryptocurrency exchange Bithumb, currently leading all crypto exchanges in market share and volume, has been the target of an attack in June that leaked private data on 30,000 users.

As of right now, it is not yet known whether Shinhan is also planning to allow their customers to buy and sell cryptocurrencies. Still, support from mainstream banks could do wonders for cryptocurrency adoption rates and lead to crypto-friendly policies from governments around the world.