KB Financial Partners with Fintech 'Wavebridge' to Build Digital Asset Ecosystem

Yang Jong-hee, Vice Chairman of KB Financial Group (left), and Oh Jong-wook, CEO of Wave Ridge (right), are shaking hands after signing a business agreement to establish a digital asset ecosystem.

[Asia Economy Reporter Bu Aeri] KB Financial Group announced on the 2nd that it has signed a Memorandum of Understanding (MOU) with fintech company Wavebridge to build a digital asset ecosystem.

Wavebridge is a fintech company that develops various financial products and solutions, including financial investment platforms, utilizing blockchain technology. It is one of the four companies selected by KB Financial for 'KB Starters Singapore.'

First, through this MOU, KB Kookmin Bank will advance the sophistication of KB's AI investment analysis platform 'KB DAM' based on Wavebridge's digital asset data and will work on developing digital asset infrastructure.

In the case of KB Securities, it will expand the digital asset financial sector by developing customer asset management models using algorithmic trading strategies and creating products based on virtual asset indices. It will also promote the issuance of evaluation reports in the form of securities firm research on major virtual assets. The company plans to develop a system that provides high-quality information to investors and protects them from information asymmetry.

KB Asset Management plans to expand its global business area by utilizing 'NEOS,' an asset management company established by Wavebridge in the United States, to promote the overseas listing of KB ETF products and develop global products related to virtual assets.

A KB Financial official said, "We will actively support innovation using blockchain technology and take the lead in creating an environment where the digital asset market can grow responsibly based on investors' trust."

This content was produced with the assistance of AI translation services.