South Korea's biggest bank plans launch of BTC custody service

posted 3 months ago
KB Kookmin, the largest bank in South Korea, is preparing to launch digital asset custody. The institution is teaming up with blockchain startup Atomrigs Lab. Atomrigs Lab secures cryptocurrencies using secure MPC technology. KB Kookmin Bank’s internal control infrastructure and information protection technologies will be utilized.

The firms aim to collaborate on the development of digital asset protection technology and smart contract applications, as well as exploring new businesses in the digital assets space. A financial institution that already has a high degree of credibility could potentially help eliminate concerns over security of customers’ funds and suspect exchange operators.
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