Korean largest bank KB Kookmin Bank has signed a Memorandum of Understanding (MoU) with blockchain-focused company Atomrigs Lab to explore cryptocurrency management, Yahoo Finance reports.
Atomrigs Lab is a blockchain-focused company which is developing solutions for the financial sector and has been developing blockchain-based digital asset protection technologies using next-generation cryptography.
According to Yahoo, the partnership will further cooperate on developing crypto management services that "harness both Atomrigs Lab’s technology and KB Kookmin Bank's internal control infrastructure and data protection technologies, the report notes."
Earlier iHodl reported that one of the oldest South Korea's financial institutions, Shinhan Bank, announced the launch of its blockchain-based verification system that can replace the verification process of certification documents required in Korea.
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