Wavebridge and KB Financial Group team up to build digital asset ecosystem
SEOUL, South Korea, Nov. 7, 2022 /PRNewswire/ -- Wavebridge has signed a Memorandum of Understanding (MoU) with KB Financial Group, a major South Korean financial holding firm, for a strategic partnership to jointly establish a digital asset ecosystem.
Under the agreement, the two parties will seek close cooperation to enhance the global competitiveness of digital asset business sectors and work together to proactively respond to digital asset market environment changes, such as regulatory trends.
Accordingly, Wavebridge will boost cooperation with several units of KB Financial Group.
With KB Kookmin Bank, the banking subsidiary of the group, the two will drive progress in advancing KB's AI investment analysis platform, 'KB DAM (Digital Asset Management),' and interact in developing digital asset infrastructure based on Wavebridge's digital asset data expertise.
Together with KB Securities, the two companies plan to expand the digital asset financial service segment by making digital asset index-based products and develop an asset management model for clients using algorithmic trading strategies. Also, they will jointly design a system that can protect investors from information asymmetry between organizations and customers. This effort includes publication of evaluation reports for major digital assets in a form of securities firm research paper to provide high-quality information to investors.
Lastly, Wavebridge and KB Asset Management will join forces in strengthening their global business area through NEOS, Wavebridge's US-based asset manager. Through NEOS, they will promote the overseas listing of KB's ETFs (Exchange-Traded Funds) and co-develop global digital asset products.
"It is truly meaningful to team up with KB Financial Group to build a digital asset ecosystem and create a safe investment environment for investors. Wavebridge will continue to lead the domestic digital asset financial market, bringing a leap-forward innovation throughout the industry," said Oh Jong-wook, CEO of Wavebridge.
SOURCE Wavebridge