Mongolia’s Biggest Bank To Offer Crypto Services

Mongolia’s biggest bank to offer crypto services. The bank will soon offer crypto services such as custody, remittance, deposits, loans, and crypto-asset management.

According to DDaily, blockchain company Hexland, which was founded by former Samsung developers and white label tech company Delio, have agreed to start working with the Ulaanbaatar-based Trade & Development Bank of Mongolia, or TDB Bank.

TDB is one of Mongolia’s oldest banks, with 50 branches across the nation. It ranks second out of 17 Mongolian banks in terms of total assets. However, the deal is not limited to the three parties aforementioned. The media outlet detailed that MDKI, a Mongolian mineral resource and blockchain company whose partners include crypto mining giant Bitfury, was also included in the agreement.

TDB Bank deals with industrial customers primarily. Its portfolio encompasses over 400 Mongolian firms, providing them with services such as project loans, industrial loans, financial consultancy, etc. Among other solutions, Hexland offers services such as blockchain smart contract creation and verification, as well as wallet creation.

An unnamed official from Delio told DDaily that through this partnership, “We are in full swing to enter the global virtual asset financial market,” with the most resources possible. No official date of the launching is set.

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