Kookmin Bank (KB), the 4th largest bank in South Korea, will launch the country’s first crypto investment fund.
In the announcement made by the bank on February 21, with artificial intelligence mutual funds to identify relevant strategies Digital Asset Management Preparatory Committee He said he built it. Moreover on cryptocurrency exchanges stated that they are preparing to launch a fund linked to traded products. related to these products. will assess the risks announced.
Honggun Kim, Chairman of the Board of KB, said in a statement on the bank’s website:
We will create a fund linked to cryptocurrencies.
said.
This fund to be created will be offered by a bank in the country. will be the first fund. Cryptocurrencies and linked ETFs will include movements is being considered.
According to research and analytics platform MacroTrends, KB Financial Group, the country’s largest group by net profit, September 30 2021 Compared to the previous year in the quarterly report announced on 7.43% with an increase of approx. 520 billion dollars reported to have total assets.
KB is getting into cryptocurrencies and NFT investments by launching a new fund. known as rival Shinhan Bank previously in its mobile app to NFTs had placed.