South Korea's biggest bank is now ready for crypto custody services

South Korea's biggest bank is now ready for crypto custody services

By Crypto Beeporter! | CRYPTO PROJECT | 27 Mar 2020


South Korea's KB Kookmin Bank is ready to launch cryptocurrency custody service soon For the knowledge of everyone,

KB Kookmin Bank is known as the largest bank in South Korea. KB Kookmin is on their way to launch crypto custody for assets such as Bitcoin (BTC) and Eth. It also specifies virtual asset consignment, settlement and transactions with fiat currency. Stated on a report on March 27 from local news outlet Digital Today that the bank filed a trademark application for KBDAC-which stands for KB Digital Asset Custody with the Korean Intellectual Property Office at the end of January 2020.

This said application reportedly indicates that bank could have launch the service soon. Along with this, the bank desires to trademark KBDAC in over 20 areas which related to all cryptocurrency industry. Last June 2019 KB Kookmin Bank partnered with Atomrigs Labs to explore digital asset management and protection solutions. Aside from this, Atomrigs Labs builds a product that surely secures cryptocurrencies using multi-party computation (MPC) cryptography technology.

What banks would be next?

According to Blockstuffs more than 40 Central Banks considers Blockchain and Cryptocurrency adoption and the below photos are some Banks and Financial services players exploring blockchain opportunities.

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Crypto Beeporter!
Crypto Beeporter!

Crypto enthusiast. trader and content writer


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CRYPTO PROJECT

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