KB Bank to Launch South Korea’s First Bitcoin, Crypto Fund
KB Asset Management to utilize AI-based investment strategy research along with an outsourced chief investment officer to launch digital asset products.KB Asset Management launches Digital Asset Management Preparatory Committee to preemptively research digital assets utilizing AI-based investment strategy. Outsourced chief investment officers (OCIOs) will be considered, including Fidelity and Grayscale. Asset management goals are low-correlation to traditional assets, principal guaranteed products backed by digital assets, and a digital asset index. South Korea’s largest bank, KB Bank,....
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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....
Hashed Ventures has raised $120 million for a fund that will be focused on a new era of distributed networks.
Earle Loxton, the cofounder of EC10 (formerly DCX Capital) the institution behind the South African crypto index fund, says plans are afoot to launch the country’s first exchange-traded fund (ETF). The ETF is expected to offer South African institutional investors an indirect way of getting exposure to bitcoin. According to Loxton, an application for this ETF will soon be lodged with the Johannesburg Stock Exchange (JSE). However, Loxton also reveals in a podcast that before proceeding with the application, EC10 alongside Easy Equities will initially prioritize finding a suitable....
South Korea’s crypto tax law continues to face significant opposition from cryptocurrency proponents in the county. Kim Boo-kyum, recently nominated as Prime Minister by South Korea’s President Moon Jae-in, has said he will look into the country’s crypto tax law.According to a report by KBS World, the Prime Minister nominee is keen to ensure that there are no victims of the crypto tax law coming into effect in January 2022.Kim’s comments come amid growing opposition to the incoming crypto tax regime. Tensions were further stoked after Eun Sung-soo, chairman of South Korea’s Financial....
Earlier this week, head of South Korea’s central bank Lee Ju-yeol warned that leveraged crypto trading was a threat to the country’s financial system. “An excessive level of leveraged cryptocurrency trading puts households at risk of financial damages considering the instability of [crypto],” he said. We expect [the increasing amount of crypto trading] to have […]