According to a report by the JoongAng Ilbo on October 7, Kookmin Bank said that blockchain technology can provide various benefits to the financial industry, including digital token issuance, financing, maintenance services and transactions.
Kookmin Bank plans to adopt distributed ledger technology for combating money laundering, improving verification services, and issuing maintenance services and tokens. KB Kookmin Bank's CIO Lee Woo-yeol said that Kookmin Bank should take a proactive approach to the blockchain and also mentioned that “Blockchain sees it as a big wave that will bring huge changes to the financial sector in the future. We don't know when, but we need to prepare for the time when various kinds of assets will be tokenized. ”
In June 2019, KB Kookmin Bank signed a memorandum of understanding with Atomix Lab to jointly develop digital asset management services using the technology of blockchain technology company Atomix Lab and KB Kookmin Bank's internal control infrastructure and data protection technology. Signed.
Kookmin Bank received a regulatory investigation from the Financial Supervisory Service (FSS) in response to criticisms of KB Kookmin Bank and Nonghyup Bank. According to the FSS, there was a problem with the so-called "suspicious transaction extraction standard of Kookmin Bank's cryptocurrency handling business."