source
It’s no news that some countries are creating their Central Bank Digital Currency (CBDC) and creating their own digital currency but however, the largest bank in South Korea, Kookmin Bank (KB) has decided to start offering a cryptocurrency ETF (exchange-traded fund) and futures products to investors that may be interested in it.
The bank has already formed a committee called the Digital Asset Management Preparatory Committee that will help in coming up with a strategy to determine the best digital assets products that has the best capabilities for investment. They will also help in assessing the risks and issues they will be surrounding the investment funds.
Honggun Kim, head of index quant management at KB, said: “We will launch a virtual asset-themed equity fund. We plan to publish periodicals as well.”
Remember that late last year in November, Rize ETF became Europe’s first specialist thematic ETF issuer that focuses on the digital payment of the economy. It was actually designed to give investors exposures, especially the ones that stand out to benefit from transition of traditional cash payment method to digital payment methods like cryptocurrencies.
The South Korea Kookmin Bank also has plans in launching a crypto investment fund that will use what they call an outsourced chief investment officer (OCIO) in order to provide guarantees on principal investments. Furthermore, the OCIO fund may be used to leverage retirement pensions. The outsourced chief investment officer OCIOs that are being considered are Grayscale and Fidelity. Grayscale is the manager of the largest Bitcoin (BTC) and Ethereum (ETH) funds in the world, while Fidelity has recently launched its first Bitcoin (BTC) exchange-traded product (ETP) in Europe. source
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I hope it pulls through. That is a good news where more banks accepting crypto.
If only others will join in too
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yes I know. But I think we all get there. Just like the internet before, no one believes it and now, we are even on Web 3.
Just like the telephone gadget before, it was so big and now, like a palm size and super fast.
True though.... I get the point
Wow. Now that's a forward thinking idea! Very cool.
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