DGB Daegu Bank, First Regional Bank to Enter 'Digital Asset Custody Business'

InfiniteBlock Develops Blockchain-Based Fintech Platform

DGB Daegu Bank Headquarters.

[Asia Economy Yeongnam Reporting Headquarters Reporter Yeo Jong-gu] DGB Daegu Bank has made a strategic equity investment in Infinite Block, a digital asset custody company.

According to DGB Daegu Bank on the 12th, this equity investment was made jointly with SK Securities and Infobank Fintech Innovation Fund No. 1, marking DGB Daegu Bank as the first regional bank to enter the digital asset custody business following commercial banks.

Infinite Block is developing a blockchain-based fintech platform that enables companies to operate and manage digital assets safely and conveniently in the digital asset market.

Based on scalable blockchain technology, they plan to launch a digital financial infrastructure platform that will be utilized not only in the digital asset market but also in the traditional financial market.

The company plans to gradually expand its services, including building a ‘custody platform’ that will serve as the future bank role in the digital asset industry, as well as issuance, operation, and management services for ‘Security Tokens (STO)’ and ‘Non-Fungible Tokens (NFT).’

Im Seong-hoon, President of DGB Daegu Bank, said, “This investment is significant as it marks the first step by a regional bank into the promising digital asset custody market. We will deeply consider what business models align with the essence of banking in the digital asset market, collaborate with excellent companies, and provide high-quality services to our customers.”