The Largest Bank In South Korea Unveils Bitcoin Custody Services

The largest bank in South Korea unveils Bitcoin Custody Services. KB Kookmin Bank (KB), South Korea’s largest commercial bank, has agreed to a contract with Hashed blockchain investment fund and Cumberland Korea crypto exchange to provide custody services to Bitcoin.

Simon Kim, chief executive officer of Hashed, the crypto investment company with offices in San Francisco and Seoul, notes “Combining our insight in the blockchain industry and providing both technical and commercial consultations will inevitably open new doors to consumers as well as to the country in ushering the new era of digital transformation.”

The government in South Korea, which had previously outlawed ICOs, changed the Disclosure and Use of Specific Financial Information Act in March to accept cryptocurrencies for the first time, and officially listed them as taxable.

[image: Shawn Ang]

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