News from Korea is that Korean bank KB Kookmin has partnered with U.S. based bitcoin startup Circle to promote blockchain related businesses and mobile certification.
According to Business Korea, Kookmin Bank said that it signed a memorandum of understanding (MOU) with Circle as part of a trilateral agreement which includes Korean bitcoin exchange and tech services company CoinPlug.
Kookmin is among the four largest banks ranked by asset value in South Korea.
“We are excited to work with the top tech companies in London, a hub of the fintech industry,”said an official from the South Korean bank, adding “KB Kookmin Bank will strive to provide our customers with new experience by adopting cutting edge technologies.”
The news of the partnership has come just a month after a group of technology and financial firms in China made a $60 million investment in the Chinese unit of Circle.