South Korea's national postal administration Korea Post (KP) will meet with Goldman Sachs officials to learn "know-how" about digital forms of money, Bloomberg announced Wednesday, September 5.

The administration, which regulates an investment reserve of $112 billion, said a gathering in regards to crypto had officially taken place with Goldman's approaching CEO, David Solomon, in New York. Addressing the Bloomberg in a meeting, the post administration's president Kang Seong-ju affirmed that KP authorities would likewise go to Hong Kong to meet with Goldman's devoted cryptocurrency team there, which the banking giant set up not long ago.

"I requested that Goldman pass on their know-how in the cryptocurrency zone," Kang told the news publication, including:

"Since cryptographic forms of money are considered to have potential and are something numerous individuals are watching, we'll have to learn the weaknesses and strengths."

The news showcased some unexpected timing, with reports surfacing that the day that Goldman had racked plans to offer digital money trading products. The disclosure delivered transitory volatility across over cryptocurrency markets, Bitcoin losing up to $500 in minutes and proceeding to lose bolster at $6,500.

Dissimilar to its mentor, Bloomberg proceeds with, KP has "no plans" for digital money investment of any kind, Kang in any case underscoring the general story that the phenomenon is one to gain a nack on it instead of staying away from it.

"We have to accumulate know-how," he included.

South Korea keeps on formalizing its cryptographic money regulations, TopMarketGroup reporting on how government debate currently revolves around the creation of a Malta-style ‘blockchain island” and the country’s controversial Initial Coin Offering (ICO) ban.