A major bank in South Korea will add custody service for cryptocurrencies

One of South Korea's largest lenders, KB Kookmin, plans to add a digital currency storage serviceBitcoin andEthereum.

According to Digital Today, the bank has already filed an application to register the trademark of its platform – KB Digital Asset Custody (KBDAC) – with the Korean Intellectual Property Office.However, the exact launch date of the service has not yet been released. 

The report states that trademark registration means that the bank has already completed most of the decision development process.

In addition to the storage service, the lender plans to launch other services, including trading, investment consulting and asset management.

 

Recently, representatives of the Bank of Korea announced the creation of their own blockchain-based bond issuance system. 

Recall that last month FinancialSouth Korean regulators endorse cryptocurrency trading activities. Now, trading platforms will have to comply with the new reporting requirements and are required to restructure their activities until September next year.

Based on materialswww.financemagnates.com