KB Bank to launch South Korea’s first crypto investment fund
The investment fund will be the first offered by a bank in the country and is expected to include a type of crypto index and ETFs. Kookmin Bank is preparing to become the first bank in South Korea to offer crypto investment products to retail investors. KB announced on Feb. 21 that it had formed a Digital Asset Management Preparatory Committee to determine product and strategy capabilities regarding digital assets and artificial intelligence investment funds. The bank expects to launch crypto exchange-traded funds (ETFs) and futures products. The committee will also assess risk and....
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KB Asset Management to utilize AI-based investment strategy research along with an outsourced chief investment officer to launch digital asset products.
South Korea’s tax agency is looking into crypto investment firm Hashed according to local media. Crypto investment firm Hashed is currently under investigation by the National Tax Service (NTS) in South Korea according to local media.The 4th Bureau of Investigation from the Seoul Regional Tax Office, which is handling the investigation, is best known for conducting investigations into tax evasion and slush fundraising. A slush fund is a pool of funds raised through undisclosed means and set aside for undisclosed purposes.On Dec. 7, local media reported that the exact nature of the....
South Korea’s Hashed has established a new fund to finance emerging blockchain startups Hashed, one of South Korea’s largest crypto asset fund managers, has raised $120 million to fund new blockchain ventures in the so-called “protocol economy.”The funds were raised via Hashed Ventures Inc., a new entity that will oversee the deployment of the nine-figure investment. The company has yet to disclose its backers, though a spokesman indicated that some of South Korea’s largest IT companies are involved. In the announcement, the company said:“Hashed plans to invest heavily in domestic and....
German private bank Hauck & Aufhäuser says it will launch a crypto investment fund in January next year, allowing institutional and semi-institutional investors to invest in digital assets including, bitcoin, ether, and stellar. ● According to a report on Fundview, the Frankfurt-based bank is partnering with local fintech company Kapilendo to establish the fund called ‘HAIC Digital Asset Fund I.’ Hauck & Aufhäuser will manage the fund while Kapilendo will act as the crypto asset depository. ● The minimum investment in the fund is 200,000 euros ($242,000),....
South Korea’s Shinhan Bank has invested in a crypto custody service backed by local crypto exchange Korbit. Shinhan Bank, the oldest banking institution in South Korea, continues its efforts to introduce digital asset custody services with a new investment.According to a Jan. 7 report by news agency Yonhap, Shinhan Bank has invested in Korea Digital Asset Trust, or KDAC, an industry consortium of businesses that provide digital asset custody. The initiative was launched by Korbit in collaboration with blockchain startup Blocko and digital asset research company Fair Square Lab.With the new....