The largest bank in South Korea enters the crypto world

  • KB Koomin is set to potentially enter the world of blockchain in a newly signed partnership.
  • The largest bank in South Korea will be working with Atomrigs Lab a blockchain technology company.

 

Local news outlet in South Korea, BusinessKorea, has reported that KB Kookmin Bank has put pen to paper on an agreement with cryptocurrency firm Atomrigs Lab.

Atomrigs is also based in South Korea, they work on blockchain technology which is specifically designed for the financial services industry. Additionally, the financial technology firm is working on cryptocurrency security solutions.

It does strongly suggest that the South Korean bank, KB Kookmin is planning on entering the custodial space within the cryptocurrency market.

In terms of the agreement, it means they will be potentially working on several different projects.

BEST BROKERS TO TRADE CRYPTO

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.