KEB-Hana Bank completed the registration of its 46 blockchain patents for new business projects.
According to the bank Wednesday, the patents would enable the bank to initiate many new services for its customers.
Under its blockchain platform, the bank could help Korean customers buy foreign products through an e-contract they sign with overseas sellers. The contract is extra safe because payment is made through an escrow account only when the purchase is complete.
Its blockchain platform would also help customers manage digital assets and available cash, the bank said.
The bank would also issue IOUs or promissory notes to customers when they want the documents to prove online cash transfer to third parties.