One of the largest asset bank of South Korea, KB Kookmin, has partnered with Atomics Lab to implement blockchain in crypto asset management. Both the firms signed a strategic MoU on June 11, a local business daily reported.
Atomics Labs is developing a product Lime that secures digital assets such as cryptocurrencies using secure next-generation cryptography. The companies will join forces to develop digital asset management services. That will combine Atomics Lab’s technology with KB Kookmin Bank’s internal control infrastructure and information protection technologies. They also intend to cooperate with each other for the creation of a linkage ecosystem between the blockchain network and finance.
Meanwhile, Kookmin Bank is promoting digital transformation throughout the company. It has set its core technology as ‘ABCDE’ – an acronym for AI, Blockchain, Cloud, Data, and Ecosystem.
The security of crypto assets is of paramount importance. So, measures are being implemented for the management of crypto assets. A recent example can be Metaco partnering with Aon to provide insurance cover to the former’s clients.