• About
  • Advertise
  • Contact
Cryptopolitan
  • Home
  • News
    • Bitcoin
    • Binance
    • Ripple
    • Ethereum
    • Cardano
  • Guides
  • Regulation
  • Price Index
    • Bitcoin Price
    • Ethereum Price
    • Ripple Price
    • Cardano Price
    • Binance Coin Price
    • Price Prediction
  • Research
  • Scam
  • Events
No Result
View All Result
Cryptopolitan
  • Home
  • News
    • Bitcoin
    • Binance
    • Ripple
    • Ethereum
    • Cardano
  • Guides
  • Regulation
  • Price Index
    • Bitcoin Price
    • Ethereum Price
    • Ripple Price
    • Cardano Price
    • Binance Coin Price
    • Price Prediction
  • Research
  • Scam
  • Events
No Result
View All Result
Cryptopolitan
No Result
View All Result
Home News Industry News

Korea’s largest commercial bank to begin crypto custody service

Muhaimin Olowoporoku by Muhaimin Olowoporoku
Aug 10, 2020 at 03:24 pm
in Industry News
2 min read
crypto custody service
585
SHARES
3.2k
VIEWS
Share on FacebookShare on Twitter

With crypto custody becoming an in-demand service owing to growing crypto adoption globally, KB KooKmin Bank is set to join the bandwagon already providing the service to crypto users.

KB KooKmin Bank began its trademark application for digital assets custody with the Korean Intellectual Property Office since January, covering over 20 crypto-related areas.

The bank predicts that cryptocurrencies would evolve beyond virtual currencies and traditional assets like landed properties and artworks to be traded on blockchain platform.

RelatedPosts

Dogecoin price surge to $50 billion, now worth more than Barclays

What is the Grand Challenge Forward Protocol solves?

An Introduction to NFTs

CBDC: UK is set to explore a digital pound

KB Kookmin Bank, the largest commercial bank in Korea to provide the crypto custody service, would partner blockchain venture fund, Hashed, and crypto trading platform, Cumberland Korea. The partnership is to establish strategic technology cooperation for the crypto custody business.

Behinde KB Kookmin Bank crypto custody service,

The largest commercial bank in Korea’s crypto custody service announcement comes after a major rival in the country, NH Bank (NongHyup), announced in June that they would be offering crypto custody service as well. NH, however, said they would only be focusing on institutional investors.

KB Kookmin Bank crypto custody partners, however, revealed they came into the crypto industry as a response to regulatory changes. The regulatory changes made them search for new business models that rely on blockchain technology.

Hashed CEO, Simon Kim said that their insight in the blockchain industry and technical, commercial consultations would open new doors to consumers in ushering the new era of digital transformation.

Banks now getting green light to disrupt crypto space

Amidst KB Kookmin Bank crypto custody service announcement, Banks are beginning to get a go-ahead from regulators to enter the crypto space. In the US, for example, local banks got the nod to manage and store digital assets on behalf of their customers.

In South Korea likewise, after the government placed a ban on ICO’s earlier this year, they began amending Reporting and Use of Specific Financial Information Act to recognize cryptocurrencies and now classify these assets as taxable.

Muhaimin Olowoporoku

Muhaimin Olowoporoku

Muhaimin loves writing on crypto news aside from being a crypto enthusiast. He has a knack for analysing issues and updating people on what's happening around the globe. He believes that blockchain and cryptocurrency are the most useful systems of mutual trust ever devised.

Related Posts

Dogecoin
Industry News

Dogecoin price surge to $50 billion, now worth more than Barclays

Apr 19, 2021 08:10 pm
forward protocol
Industry News

What is the Grand Challenge Forward Protocol solves?

Apr 19, 2021 05:44 pm
NFT
Industry News

An Introduction to NFTs

Apr 19, 2021 04:09 pm
UK is launching a taskforce to explore CBDC
Industry News

CBDC: UK is set to explore a digital pound

Apr 19, 2021 03:56 pm
crypto market
Industry News

Crypto market suffers set back as prices drop 8 percent

Apr 18, 2021 10:17 pm
China CBDC china's cbdc
Industry News

China CBDC would only be for domestic use after launch

Apr 18, 2021 06:19 pm

Follow Us

  • 51k Fans
  • 8.3k Followers

Popular News

  • DOGE Price Prediction

    DOGE Price Prediction: Dogecoin to the moon, to hit its $0.2 target after safeguarding support

    1366 shares
    Share 546 Tweet 342
  • Ripple price prediction: XRP blasts past $1.8392 as bulls relentlessly pursue $2.0

    1343 shares
    Share 537 Tweet 336
  • Cardano price prediction: ADA fails to break above $1.50, what’s next?

    1316 shares
    Share 526 Tweet 329
  • XRP Price Prediction 2021, 2023, 2025, 2030

    1286 shares
    Share 514 Tweet 322
  • Dent Token Prediction for 2021 – 2025

    1230 shares
    Share 491 Tweet 307

Latest News

Binance Coin Price Prediction 2021-04-20

Binance Coin price prediction: Binance Coin continues retracing, set to consolidate later today

April 20, 2021
ETH Price Prediction

ETH Price Prediction: Ethereum plummets to the $2,000 range while showing signs of a further price dip

April 20, 2021
American retailer

American retailer Newegg enables Dogecoin payment

April 20, 2021
Litecoin price

Litecoin price prediction: LTC to retest $280 resistance

April 20, 2021
Chainlink Price Prediction 2021-04-20

Chainlink price prediction: Chainlink fails to move below $33, prepares for a reversal?

April 20, 2021

Signup To The Daily Roundup

Get New Posts By Email:
Privacy Policy

Got a Story tip? Email Contact@Cryptopolitan.com

News

Guides
Bitcoin News
Blockchain News
Ethereum News
Industry News
Research News
Scam News
Regulation News
Exchange News

Binance News
Ripple News
Cardano News

Stay Connected

Facebook
Twitter
Telegram
Youtube

Company

About
Contact
Write for us
Advertise with us
Privacy Policy
Cookie Policy
Comment Policy
Editorial Policy
Terms and Conditions
Crypto Portfolio Tracker
Sitemap

Exclusive Partners of

Footer 1

Got a Story tip? Email Contact@Cryptopolitan.com

cryptopolitan 1

News

Guides
Bitcoin News
Blockchain News
Ethereum News
Industry News
Research News
Scam News
Regulation News
Exchange News
Bitcoin Price
Ethereum Price
Bitcoin Cash Price
Cardano Price
Dash Price

Stay Connected

Facebook
Twitter
Telegram
Youtube

Company

About
Contact
Write for us
Advertise with us
Privacy Policy
Cookie Policy
Comment Policy
Editorial Policy
Terms and Conditions
Crypto Portfolio Tracker

Cryptopolitan brings you quality Blockchain and Cryptocurrency news, ICO reviews, crypto technical analysis, and other unique news insiders. We cover Bitcoin news, altcoins news, blockchain projects news, ICO news, regulatory developments and the confluence of news on the leading blockchain technologies.

© 2021 Cryptopolitan. All rights reserved. Terms | Privacy

No Result
View All Result
  • Home
  • News
    • Bitcoin
    • Binance
    • Ripple
    • Ethereum
    • Cardano
  • Guides
  • Regulation
  • Price Index
    • Bitcoin Price
    • Ethereum Price
    • Ripple Price
    • Cardano Price
    • Binance Coin Price
    • Price Prediction
  • Research
  • Scam
  • Events

Copyright © 2020 Cryptopolitan.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.