Mongolia’s Major Banking Leap into the Crypto Realm

The Trade & Development Bank of Mongolia, affectionately known as TDB Bank, is set to make waves in the crypto waters with plans to roll out a range of digital asset services. With a storied history as one of the country’s oldest banks, boasting 50 branches, TDB Bank ranks second among Mongolia’s 17 banks in total assets. Now, it’s trading in its traditional banking cap for a crypto helmet, ready to embark on an exciting new journey.

Partners in Crime: Hexlant, Delio, and MDKI Team Up

In an intriguing twist, TDB Bank won’t be navigating these uncharted waters alone. They’ve teamed up with blockchain powerhouse Hexlant, founded by those savvy ex-Samsung devs. Hexlant specializes in smart contract development and wallet creation – perfect allies for TDB’s expedition into digital currencies. But hold on tight, there’s more! Also joining the party is Delio, a white label tech company, as well as MDKI, a Mongolian mineral and blockchain company who rubs shoulders with industry giants like Bitfury.

What’s on Offer? Crypto Services Galore!

So what exactly will the TDB Bank be offering? This isn’t just a snooze-fest of basic services! The bank plans to deliver an impressive lineup of crypto offerings including:

• Custody services for secure asset storage
• Remittance options to send money across borders with ease
• Deposits to make holding crypto as easy as pie
• Loans to get some liquidity in your life
• Crypto-asset management for those who like to keep an eagle eye on their investments

Whispers of a Timeline: When Will It All Begin?

Despite this exciting partnership, it seems that the crypto plans are still in the oven, baking away without a set launch date. An unnamed official from Delio has teased that they’re gearing up to dive into the global virtual asset market with gusto. But patience, dear reader; the specific launch timeline remains locked in mystery, at least for now!

A Peek into Mongolia’s Crypto Future

Let’s not forget, Mongolia has been flirting with cryptocurrencies since at least 2018. From Ulaanbaatar City’s collaboration with South Korea’s Terra to explore digital currency for utility bills to mobile telecommunication operators leading the charge as licensed crypto issuers — it appears that the land of blue skies is becoming quite the hotbed for digital innovation.

So, as TDB Bank puts on its crypto cape, we can only watch and wait to see what kind of transformations await Mongolian finance. Will this move open the crypto floodgates for the nation? Let’s cross our fingers and hope for a profitable plunge into the digital deep end!