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