Kookmin Bank one of the largest South Korean banks could become the first bank in South Korea to offer cryptocurrency investment products to retail investors.
The bank plans to launch exchange-traded crypto funds (ETFs) and futures products, on February 21 it announced that it has formed a preparatory committee for digital asset management to determine the capabilities of the product and strategy regarding digital assets.
The plans were confirmed by Honggun Kim (in charge of managing KB's Quant index), in the bank's official release, said:
"We will launch a virtual asset-themed equity fund, etc. We plan to publish periodicals as well."
Current plans are to launch a crypto index investment fund and a fund that uses an Outsourced Chief Investment Officer (OCIO), also referred to as outsourced investment management, in order to provide guarantees on key investments.
KB is once again confirmed as an innovator in the banking market, it is no coincidence that KB Kookmin Bank just this month introduced the first kiosk-type "AI Banker" in the country, in fact since March last year, KB together with DeepBrain AI have worked closely to improve functions and increase performance, showing and testing it live in the AI experience zone located in the Yeouido headquarters of KB Kookmin Bank.