Crypto adoption is slowly getting spreaded and countries who offer services to their citizens in order to make it more easier to Hodl and secure crypto assets of course will have gains in the cryptocurrency field in the future.
The South Korean largest Bank, KB Kookmin will launch custody for Crypto assets and will offer their clients opportunity to secure bitcoin (BTC) and ethereum (ETH), and to take effect the Korean Bank filled are trademark application and on Friday 27 reported on the local news!
The service offered by the Bank will be dubbed KBDAC meaning KB Digital Asset Custody, the initial application was made on January 31 and the request for a Trademark just means that all development regarding this service is already done or it's close to! The Bank already had some developments in blockchain industry in the past and now decided to take this step to assure their customers can hodl direct Crypto assets stored by them! In 2019 the Bank partnered with atomrigs lab and this developments must be linked to this startup.
South Korea is one of the worldwide countries that is integrating crypto assets into their financial institutions and catapult the adoption to be more faster, with a blockchain zone assured, where the citizens may in future be charged taxes for their trading profits and recently the lawmakers in the country voted to increase the rules for money laundering in crypto Firms!
The service will be a catalyst for all financial Korean market and will impulse more Traditional Banks to opt-in to the custody crypto services to offer Bitcoin or other assets that they wish to hold.
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