The largest South Korean Bank will launch the service to store cryptocurrency

One of the four largest banks in South Korea, Kookmin Bank announced the launch of cryptocurrency custody service in conjunction with the company Atomrigs Lab. It is reported by CoinDesk Korea.

According to the publication, the parties to the agreement will examine the technology of protecting digital assets and the use of smart contracts.

It is expected that a new service for managing digital assets will be a combination of technology Atomrigs Lab and private infrastructure Kookmin Bank. Also the company is planning the creation of a system for enterprises of the sphere of the blockchain and traditional Finance.

«We hope that our companies will grow together, opening up innovative services in the field of digital asset management in the framework of this agreement. We will expand the digital ecosystem through cooperation», – said the representative of Kookmin Bank.

Experts suggest that the launch of the service for a wide range of users may take several months.

Recall that in late March, the manufacturer of hardware wallets Ledger has partnered with the Hong Kong trust company Legacy Trust to run cryptoconfigdialog decisions at the institutional level.

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