Big news for the NFT community: The banking giant KB creates crypto, NFT & CBDC-compatible wallets

Kookmin Bank (KB) is a South Korean banking giant and now they are offering a new innovation. They developed new multi-coin wallets that are capable of storing non-fungible tokens (NFT) and various tokens including central bank-issued coins.

Kookmin Bank is using Klaytn blockchain protocol, which was developed by the internet powerhouse and chat app operator Kakao.

From the Kookmin Bank is said that the wallet would “enable charging [account top-ups], remittance and payment” services for “various digital assets,” such as “cryptoassets, local government-issued [stablecoins] and NFTs.”

“We plan to actively participate in the CBDC [pilot] testing run for the Bank of Korea next year. We plan to gradually upgrade [the wallet] by adding more functionality in the future.”, said a KB official.

But this is not the first time for KB to be involved in a similar business, they co-launched a joint-venture crypto custody firm named Korea Digital Asset (KODA). At the time, the bank spelled out plans to create a business-to-business-focused “digital assets bank” for crypto. KODA initially was only compatible with bitcoin (BTC), but the firm said it wanted to add ethereum (ETH) handling capacities at a future date.

Banks around the world are going deeper into the crypto and NFT world after they saw the big potential in all of it.

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