Korean Bank KB Kookmin preparing to launch a digital asset custody offering

12 Jun, 2019
by Ryan Boltman
Adoption
Korean Bank KB Kookmin preparing to launch a digital asset custody offering

South Korea's largest Bank KB Kookmin is set to launch a digital asset custody offering for it's clients, according to CoinDesk.

CoinDesk Korea reports thats KB Kookmin is partnering up with startup Atomrigs Lab, with the startup working on a product that secures digital assets.

The partnership will allow Atomrigs Labs and KB Kookmin Bank to compliment each others infrastructure, the collaboration and development of a digital asset custody offering is a huge announcement for South Korea's largest bank. The ability for a bank to offer a potential cryptocurrency offering could catapult digital asset adoption in the country.

KB Kookman commented on the partnership, saying "We hope that the two companies will grow together by discovering innovative services in the field of digital asset management, We will continue to cooperate with various technology companies in the digital ecosystem to expand our offerings."

KB Kookman could become the first bank to adopt cryptocurrencies, with their focus on AI, blockchain, cloud, data and ecosystem.

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Read more about: South Korea

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