Major South Korean bank KB Kookmin Bank is expected to launch a cryptocurrency custody service in the near time to come.

According to a study from local news outlet Digital Today on March 27, the bank filed a trademark awarding for KBDAC, referring to a proposed Digital Asset Custody subsidiary, at the terminate of January, 2022.

KBDAC trademark awarding for crypto-related industries

In the application to the Korean Intellectual Property Office, the bank expresses its want to trademark KBDAC in over xx areas, all relating to the cryptocurrency industry.

These include trading, consultation and direction of digital assets like Bitcoin (BTC) and Ether (ETH). It also specifies virtual asset consignment, settlement and transactions with fiat currency.

The range of industry areas covered has led to speculation that KB Kookmin Depository financial institution is launching a subsidiary make to offer financial services and products that receive and manage virtual avails in investment funds.

The Digital Assets Custody moniker provides a thread linking all of these services. Based on previous trademark applications by the banking company, it is expected that the new subsidiary could launch every bit soon as H1 2022.

Atomrigs partnership comes to fruition

As Cointelegraph reported, terminal June KB Kookmin Bank partnered with Atomrigs Labs, to explore digital asset direction and protection solutions.

KB Kookmin Bank has been proactive in its approach to blockchain technology. In a statement final October, it professed its conventionalities in the spectrum of benefits it could bring to the financial services industry, and its intention to integrate blockchain technology into its internal processes.