Fri. Jul 1st, 2022

Kookmin Bank, one of the leading banks of South Korea by net assets, has launched crypto investment products targeted at retail investors. Alongside, the bank has designed a Digital Asset Management Committee with the objective to launch a crypto exchange-traded fund (ETF) and future products as soon as the regulation in the country allows. 

In the cryptocurrency market, the value of Bitcoin (BTC) was down by 2.15 percent in the last 24 hours, while it was trading at $37,645.65 at 4:30 pm IST. Its governance in the crypto market is currently at 42.13 percent, up by 0.49 percent in the last 24 hours, according to Coinmarketcap.com.  

We will launch a virtual asset-themed justice fund, etc., as soon as possible, says Hong-Gom Kim, head of Kookmin Bank’s direct quant management division. “We will also publish periodicals.”

Along with raising a fund through its future virtual currency index, the bank is also looking at the potential of a hybrid fund that contains crypto alongside traditional assets. This fund will be used by an outsourced chief investment officer to offer guarantees on its investments. It may also be used in retreat pensions. 

The exchange follows other Asian legacy banking institutions stirring into crypto. Last week, Singapore’s DBS Bank declared campaigns for a retail digital asset trading desk later this year. In January, the Philippines’ Union Bank exposed plans to provide crypto-currency trading and protective services. 

Ethereum (ETH) was trading at $2,589.90, with a drop of 3.28 percent in the last 24 hours, while Binance Coin (BNB) was losing by 3.56 percent over the same period and was trading at $365.90. Solana fell by 8.02 percent to $85.31 and Cardano dropped over 8.56 percent to $0.8685. 

Between meme coins, Dogecoin dropped its value by 5.90 percent and was trading at $0.1299 at 4:30 pm. Rival Shiba Inu was down by 6.35 percent in the last 24 hours and was trading at $0.00002472. Dogelon Mars dropped by 4.00 percent and was exchanged at $0.0000007753, while Samoyedcoin was trading at $0.01976, recording a drop of 5.55 percent in the last 24 hours.

The global crypto market cap was at $1.69 trillion, recording a decrease of 3.48 percent in the last 24 hours, while the total crypto market capitalization was $111.10 billion, up by 69.59 percent.  

OBRok Token (OBROK) became the biggest gainer, recording a growth of 649.96 percent. It was trading at $0.000002931, as per Coin market cap records. Indifference, Ladyminers (YTTRIUM) saw the maximum loss, falling 83.51 percent, it was trading at $0.02549, displays the data in CoinMarket Cap.

The 5th generation blockchain system announced on Tuesday that it had signed a memo of understanding (MoU) with the City of Alliance, Nebraska, USA. The MoU will aid in developing Smart and Robust Regulating for the city, according to the press statement.  

“This is the leading part of the act with regards to the development of society that any community can ensue. Responsible law enforcement that concurrently helps the community and needs accountability from officials is something that was long expected and needed in our community.

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