KB Kookmin, South Korean Bank, to Adopt Cryptocurrency

KB Kookmin, South Korean biggest bank sets to launch crypto custody service for cryptocurrencies including BTC and ETH. Local news reported that KB Kookmin filed a trademark application for KB Digital Asset Custody (KBDAC) with the Korean Intellectual Property Office. According to the Korean Intellectual Property Office, the bank applied for KBDAC as a trademark that relates to investment, advisory, and trading of cryptocurrencies. The office says that trademark registration takes a minimum of six months and a maximum of…

Ripple Partners with NBF for Cross-Border Payments via RippleNet

On the 2n of March 2020, the National Bank of Fujairah (NBF) announced its partnership with Ripple, a leading blockchain remittance company. The deal aims at allowing seamless cross-border payments through the RippleNet platform. Additionally, RippleNet will enable NBF’s customers to conduct and secure real-time payments with clear end to end tracking of transactions. Vince Cook, the National Bank of Fujairah CEO, noted that banks have to act with agility and look for new and improved methods to provide services…

Crypto Adoption May End Bank Credit Issuance, BoE Official Warns

The deputy governor for the Bank of England (BoE), Jon Cuncliffe, warned that the crypto economy’s exponential growth might weaken or end bank credit issuance. Cuncliffe pointed out this while delivering a speech at the London School of Economics on the 28th of February. Cuncliffe stated that BoE’s role is to ensure that the UK’s money works safely and reliably. The BoE official predicted that the integration of stablecoins on social media platforms, including the Libra project, could result in…