Kookmin Bank (KB) will be the first bank in South Korea to offer cryptocurrency products to retail investors.
KB also announced the creation of a Preparatory Committee for Digital Asset Management.
With its help, the bank plans to launch exchange-traded cryptocurrency funds (ETFs) and futures products.
The committee will also handle risk assessment and regulatory compliance issues for investment funds.
The launch of the crypto fund was confirmed by KB Index Quant Management head Hongun Kim.
According to MacroTrends, KB Financial Group is the nation’s largest company. As of September 2021, it held $520 billion in assets.