Digital Assets Adoption Within Traditional Banks

12 Aug 2020 — #Bitcoin was created more than 10 years ago and we would have expected widespread of #crypto adoption by now, wouldn’t we?

The traditional banks have been slow to the rise of #digitalassets market however lately, we have seen an increase in the adoption of blockchain services.

Dutch bank ING announced last December that they were working on a digital asset custody solution. In June, Japanese bank Nomura Holdings Inc and cryptocurrency partners Ledger and CoinShares launched Komainu-Next Generation Custodian, a custodian to safeguard digital assets for financial institutions.

This was followed by Standard Chartered Bank reportedly building a crypto custody offering for the institutional market, while in the same month, July, the U.S. based banks were given the green light to custody cryptocurrencies by the Office of the Comptroller of the Currency.

Earlier this week, KB Kookmin Bank 국민은행 has partnered with HashedHAECHI AUDIT Labs and Cumberland Korea to develop the emerging digital assets market in South Korea.

Signs of digital assets adoption within traditional industries is positive and serves as a big validation that crypto market is here to stay. As the banks continues to gain momentum, this will hopefully lead to digital assets mainstream adoption soon.


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