KB Asset Management, a member of KB Financial Group, the largest financial conglomerate in South Korea, has recently announced it is launching a fund focused on retail clients with a focus on crypto products in the form of indices and ETFs.
Financial institutions in the country are currently limited in providing direct access to the new asset class.
The company has formed a committee to prepare for digital asset management. The structure will be engaged in market research, development of investment strategies, as well as risk assessments and compliance issues for investment funds.
The created products will reportedly have a low correlation with traditional assets and they will be directed to a part of the pension savings managed by the company.
According to the company’s site, KB Asset Management has managed $94 billion in assets this month.