The largest financial conglomerate in South Korea, KB Kookmin, will launch a cryptocurrency custodian service for Bitcoin and Ethereum, reports The Block according to a local publication.

According to representatives of the bank, the development of the service has been conducted jointly with Atomrigs Lab since June 2019. The startup provides security solutions for cryptocurrencies.

KB Kookmin sent an application for registration of the KBDAC (KB Digital Asset Custody) trademark, on the basis of which the service should be launched in the near future.

Nevertheless, KB Kookmin did not disclose details. Moreover, in the future, the bank does not exclude the possibility of providing other services related to digital assets, including trade, investment consulting and asset management.

Recall that in March, the South Korean parliament adopted amendments to the legislation leading cryptocurrency trading into the legal field.