One of the largest South Korean banks, KB Kookmin Bank or KB is set to launch a crypto custody service in the foreseeable future.
As Digital Today has reported on Friday, 27 March, the bank filed a trademark application for “KBDAC” – KB Digital Asset Custody in the late of January of the current year. In the application, KB expresses its desire to trademark KBDAC in around 20 areas relating to the crypto sphere. This includes trading, consultation as well as management of cryptocurrencies. It also clarifies digital asset consignment, settlement, along with their transactions with fiat currency.
South Korean bank will launch a subsidiary brand in order to provide financial services and products, regarding receiving and managing cryptocurrencies in investment funds.
It is worth noting that in June of the previous year, KB Kookmin Bank developed a crypto custody service in the partnership with Atomrigs Lab. Atomrigs Lab designs a product that secures crypto assets with the usage of multi-party computation (MPC) cryptography technology.
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