South Korea's Top-Bank introduces crypto ETFs

South Korea's Top-Bank introduces crypto ETFs

The south Korea's largest bank's wealth management announced the foundation of a committee on Monday, which is supposed to help with the examination and development of cryptodyizing products and stock exchange -traded funds.

The wealth management branch of the KB Kookmin Bank said that his Digital Asset Management Preparatory Committee will plan preparations for the introduction of its crypto products that have their headquarters in the Index Quant Operation Division of the branch.

KB hopes to get into the fast-moving industry about his crypto offers "as quickly as possible" after the "Deregulation in Korea", a rough translation of, to the fast-moving industry reads.

The bank said that she is planning to prepare for the preventive introduction of related products through market research for digital assets at home and abroad.

In addition to his crypto index fund, KB Asset Management said that it will change from traditional asset correlation on the pension and ocio markets to a guaranteed capital allocation fund with foreign crypto.

"We will put up equity funds on the subject of virtual assets as soon as possible," said Hong-Gon Kim, head of the Index Quant Management department of KB Asset Management. "We plan to organize a virtual asset conference for customers and to issue magazines."

KB Kookmin is the largest bank in the country after net profit. The Bank's holding company, the KB Financial Group, recorded a managed assets of a total of 457.3 trillion KRW ($ 382.7 billion) up to the fourth quarter of 2021. Results report .

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The contribution South Korea's Top-Bank for the introduction of crypto ETFs is not a financial advice.