Giant Korean Bank May Get Into Crypto, Could Catalyze Bitcoin Rally

Reported by CoinDesk on Tuesday, Bitcoin (BTC) and other digital assets may soon be stored by KB Kookmin, South Korea’s largest bank. Citing a report from its Korea branch, the outlet revealed that on June 10th, the financial institution and a local blockchain upstart Atomrigs Consulting signed an agreement on the matter of custody.

Atomrigs’ research and development department are developing Lime, a system that secures digital assets, including traditional cryptocurrencies, using “secure MPC technology”. With this agreement, Kookmin will be joining hands with the firm to combine Lime and its experience storing and managing traditional and new assets. The report didn’t specifically mention Bitcoin, Ethereum, or any other traditional cryptocurrency, but Korean consumers are known to have adopted these assets en-masse.

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