KB Kookmin Bank, Hashed partner for Bitcoin custody services

Tuesday 11 August 2020 11:05 CET | News

South Korea-based KB Kookmin Bank (KB) has partnered with blockchain venture fund Hashed and crypto exchange Cumberland Korea to offer Bitcoin custody services.

The partners will manage and store digital assets using blockchain technology and support the regulatory development and transformation of the country’s financial sector. The collaboration follows the receipt of backing from US Office of the Comptroller of the Currency (OCC) for US banks to provide custody services for digital assets.

Hashed will work with KB to build South Korea’s blockchain financial infrastructure. Earlier in 2020, KB filed for its digital assets custody trademark patent with the Korean Intellectual Property Office. The government-owned lender expects the digital asset market will also include assets such as real estate, artwork, and other reified rights traded on blockchain platforms, in addition to cryptocurrencies.

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Keywords: KB Kookmin Bank, Hashed, Bitcoin, custody services, Cumberland Korea, South Korea, blockchain, venture fund, crypto exchange, Office of the Comptroller of the Currency, OCC, banks, US, digital assets
Categories: DeFi & Crypto & Web3
Countries: Korea, Republic of
This article is part of category

DeFi & Crypto & Web3