KB Kookmin Bank investigates blockchain tech

Blockchain | February 18, 2016 By:

KB Kookmin Bank has announced that it has signed a MOU (Memorandum of Understanding) with bitcoin services company Coinplug.

The bank is planning to develop overseas fund transfer and data storage services, for the verification of online bank accounts, based on distributed ledger technology.

“The blockchain technology is a new trend and we are trying to adopt this technlogy in a low level of data integrity platform. We are planning to escalate our services further to provide more secure and comfortable financial services for our customers”, an officer of KB Kookmin Bank said in a statement.

KB Kookmin Bank (KB) is one of the largest commercial banks in South Korea.