South Korea’s Biggest Bank U-Turns on Crypto With Custody Service

South Korea’s largest bank by assets, KB Kookmin, has partnered with a cryptocurrency startup to develop custody solutions.


South Korea’s Kookmin U-Turns on Crypto

Reported by local media outlet Business Korea June 11, Kookmin will now work with local company Atomrigs Lab, which is active in digital asset protection.

The move marks a decisive change of tack for Kookmin, which until recently appeared to have a hands-off stance on cryptocurrency in general.

South Korea continues to be a hotspot for cryptocurrency activity in areas such as trading, with mixed regulatory signals failing to dampen consumer enthusiasm this year.

“We hope that the two companies will grow together by discovering innovative services in the field of digital asset management with this agreement,” Lee Koo-il, CEO of Kookmin Bank, meanwhile commented after inking the partnership on Monday.

We will expand the digital ecosystem through cooperation.

Crypto, Blockchain Options On Radar

The exact outcome of the joint development plans with Atomrigs…

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Source: https://thebitcoinnews.com/south-koreas-biggest-bank-u-turns-on-crypto-with-custody-service/