South Korean Kookmin Bank Develops Multi-Assets Wallets

South Korean banking giant Kookmin Bank is working on new cryptocurrency wallets. Users will be able to simultaneously store cryptocurrency, NFT and CBDC in the wallet. According to Financial News, the digital wallet is based on the Klaytn blockchain. The wallet also offers various transactional services such as deposits, sending, and payment in digital currency.

Several companies are currently working on a CBDC pilot project with the central bank of Korea. According to a Kookmin Bank official, the banking giant plans to actively participate in the Bank of Korea's CBDC simulation next year. Kookmin Bank announced that testing of digital crypto wallets has been completed and they will be tested by the end of next year as part of the pilot project.

Kookmin Bank is very active in the crypto market in Asia. In January last year, the bank applied to register the Kookmin Bank Digital Asset Custody (KBDAC) trademark, which covers over 20 areas of the crypto industry. Kookmin Bank has invested in Korea Digital Agency (KODA), a digital asset management company. The joint venture with KODA allowed Kookmin Bank to become the first bank in Korea to launch its own digital asset custody service.

Image: Asia Alliance Bank