South Korea refuses to stay behind in the race to adopt digital currency.

This week, the South Korean government announced that it will offer KRW3 trillion (USD2.65 billion) in financial support over the next three years to develop and promote the financial technology sector in the country. This included the system expansion of digital currency like bitcoin.

“The government will push for the systemization of digital currency on a full scale in tandem with a global trend in the U.S., Japan and other countries,” said Financial Services Commission chairman Yim Jong-yong, according to the Korea Herald.

However, this isn’t the first time the country and local institutions have ventured to adopt bitcoin and its underlying technology, the blockchain.