South Korea’s largest bank by asset value, Kookmin Bank, will introduce a digital asset custodial service within a year, according to DDaily. This comes after blockchain firm Hashed announced its partnership with Kookmin Bank in August to accelerate the market for digital assets in South Korea.
Kookmin Bank applied for the trademark ‘KBDAC’ (Digital Asset Custody) in January this year, demonstrating the bank’s early intentions for digital asset custody services.
At the recent D.FINE conference, Kookmin Bank’s Head of IT Technology Innovation Center, Cho Jin-Seok, confirmed that it’s possible the service will launch within the year. However, there are difficulties doing so as a bank. These comments have led to speculation that the bank will launch the service through a joint venture with a digital asset firm.
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