Banks’ support for cryptocurrencies is growing as “KB Kookmin Bank,” which is one of the largest banks in South Korea, has partnered with the blockchain fund “Hashed” and crypto trading platform, “Cumberland Korea.”
Simon Kim, CEO of the Seoul and San Francisco-based firm, Hashed, said:
“Combining our insight into 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.”
Their cooperation around technologies such as blockchain will involve managing and storing digital assets, advocating for optimal regulatory developments, and transforming the traditional financial sector.
This partnership comes after Russia’s biggest bank, “Sberbank” launched its Stablecoin, and the Swiss bank “Bassler Kantonalbank” decided to offer Bitcoin investments.