The partnership involves also Trustonic, a company focused on developing mobile technology solutions, to support KB Kookmin’s aim to promote several financial ventures regarding Blockchain technology, while also developing mobile certification services. The bank announced in February 2016 plans to develop a Blockchain platform to carry out international financial operations (transference of value and remittance services).
South Korean KP Financial Group, KB Kookmin Bank’s parent company, has over 29 million clients, servicing more than 50% of the South Korean population. The conglomerate holds more than 1,000 local branches and holds a significant majority of fiat deposits, loans, and mortgages.
On the other hand, Circle is regarded as the most financed Bitcoin startup, the company recently unveiled a USD 60 million fundraise, the money is coming from ventures and investment firms based in China, according to themerkle.com.
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