Tagged: south korea

Fintech Ripple Welcomes Yonsei University in South Korea to a Blockchain Research Initiative Program

Ripple, the provider of digital asset infrastructure, announced that Yonsei University in South Korea is the latest partner to join its University Blockchain Research Initiative (UBRI) program. This new partnership with one of South Korea’s academic institutions “marks Ripple’s 58th UBRI partnership globally, and its… Read More

Part of Viva Republica, Toss Securities to Establish US Office in Expansion Push

In a strategic move to extend its global footprint, Toss Securities, a securities firm with a data-driven investment platform based in South Korea, is set to establish a new corporate office in the United States. Toss Securities is a subsidiary of the South Korean Fintech,… Read More

South Korea Enforces Tougher Virtual Asset Rules

South Kora’s Financial Services Commission (FSC) announced early this week that new stringent regulations targeting illegal transactions involving virtual assets will be enforced. The new legislation, known as the Virtual Asset Users Protection Act, mandates virtual asset exchanges to report illegal activities to the financial… Read More

Clearstream Intoduces Direct Link to South Korea to Facilitate Market Access for Foreign Investors

On 1 July 2024, Clearstream introduced a direct link to South Korea with the Korea Securities Depository (KSD). This innovative link is expected to provide clients “with seamless market access to settle and safe keep Korean government bonds, including Korean Treasury Bonds (KTBs) and Monetary… Read More

Woori Bank Joins Race for South Korea’s Fourth Internet-Only Bank License

Woori Bank, a major South Korean commercial lender, has officially entered the competition to secure a license for the country’s fourth internet-only bank. The bank confirmed that it had submitted a letter of intent to join the Korea Credit Data (KCD) led consortium. This move… Read More

Payment Cards Still Most Preferred Payments Method for Digital Commerce Transactins in South Korea – Report

Payment cards remain the most preferred payment tool for e-commerce purchases in South Korea, collectively accounting for over half (54%) of the total e-commerce payments in 2023, signifying a strong preference for secure and convenient transactions among the online shoppers, finds GlobalData, a data and… Read More

Shinhan Bank Joins Race for South Korea’s Fourth Internet-Only Bank License

Shinhan Bank, a prominent player in South Korea’s banking sector, is set to enter the digital arena, vying for a license to become the country’s fourth internet-only bank, according to a Korea Herald report. The move positions Shinhan to compete with established digital banks such… Read More

Digital Assets: Crypto.com App to Launch in South Korea

Crypto.com, which claims to be “trusted” by more than 80 million customers worldwide and the industry leader in regulatory compliance, security and privacy, announced that it is launching the Crypto.com App in South Korea, which will allow Korean retail users in the market to trade… Read More

OurCrowd Talks Up Korea-Israel Venture Fund, Aims to Raise $80 Million

OurCrowd, a global online investment platform catering to smaller (accredited) investors, has announced the launch of its Korea-Israel Venture fund – officially labeled NH-OC Global Open Innovation Fund. OurCrowd offers single-company investment opportunities as well as a growing list of sector funds along with its… Read More

ZilBank.com, a B2B Payment Platform, to Assist South Korean Entrepreneurs with Sending Funds to the US

ZilBank.com, a B2B payment platform, has recently announced its initiative that enables South Korean entrepreneurs and freelancers to conduct payments to the United States effortlessly, promoting worldwide business expansion without being limited by geographic barriers. The platform has made it easier for South Korean businesses… Read More

Fintech Lightyear Announces Investments from South Korean VC Firms Sunbo Angel Partners and Lighthouse Combined Investment

Lightyear announced a strategic investment from two South Korean venture capital funds, Sunbo Angel Partners and Lighthouse Combined Investment. Both funds, with ties to South Korea’s automotive industry and other manufacturing corporate alliances, “have recognized Lightyear’s potential to create the next era of highly efficient… Read More

Fintech Nium, Jeonbuk Bank to Introduce Global Remittance Service

Nium, the firm enabling real-time global payments, and Jeonbuk Bank (JB Bank), aSouth Korean financial institution, have announced a partnership. Together, they will offer the country’s first global remittance service “targeted at the 2.5 million non-Korean residents that live in South Korea.” The service will… Read More

Insurtech bolttech and LOTTE HIMART to Offer Home Appliance Switching Service in South Korea

LOTTE HIMART, one of the largest electronic goods retailers in South Korea, has partnered with international insurtech bolttech in order “to launch the country’s first-ever home appliance switching service.” Powered by bolttech’s embedded insurance technology, the service will “enable LOTTE HIMART customers to easily replace… Read More

Blockchain Firm Elliptic and CODE to Support AML and Travel Rule Compliance in South Korea

Elliptic – the firm enabling blockchain analytics and data intelligence – and CODE – a South Korean Travel Rule solution provider – have launched a partnership which represents Elliptic’s entrance into the Korean market. The new alliance will help companies in the country ramp up… Read More

East Ventures, SV Investment Launch $100m Fund to Bridge SE Asian, Korean Startups

Indonesia- and Southeast Asia-focused venture capital investor East Ventures has partnered with Seoul-based SV Investment to launch the “East Ventures South Korea fund in partnership with SV Investment” with a target corpus of $100 million. The initiative’s primary goal is to bridge the investment avenues… Read More

Blockchain Adoption: South Korean Entertainment Platform Supports Ticketing Platform with Avalanche

Dreamus, the entertainment events and streaming pioneer supporting globally known K-pop stars and most South Korean concert ticket sales, is now using Avalanche. The 21M loyalty users of its popular ticketing app, OK Cashbag, “can now buy Avalanche-backed tickets in just a few clicks.” Dreamus,… Read More

Tokeny, Klaytn Foundation Unite for RWA Tokenization Adoption in Asia

Tokeny and Klaytn Foundation unite for “massive” RWA tokenization adoption in Asia Tokeny, the global tokenization platform, announces its strategic alliance with Klaytn Foundation, an EVM-compatible public blockchain “developed by the renowned Korean IT giant, Kakao.” This strategic alliance is set “to catalyze the widespread… Read More

Fintech Currencycloud Partners with South Korea-based Cross-Border Payments Firm MOIN

Currencycloud, which claims to be the experts in simplifying business in a multi-currency world, has partnered with South Korea-based cross-border payment company MOIN in order to expand its global coverage “while delivering faster processing times, lower transaction costs, and enhanced security measures to its customers… Read More

Digital Assets: VNX Gold, VNX Euro, and VNX Swiss Introduced to South Korean Crypto Traders

VNX, a Liechtenstein-based company registered by the Liechtenstein Financial Market Authority (FMA), has partnered with Burrito Wallet, which is developed by a subsidiary of Bithumb, a Korean cryptocurrency exchange, to introduce South Korean users “to the digital assets VNX Gold, VNX Euro, and VNX Swiss… Read More

Digital Asset Taxation: CryptoTax, Uppsala Security Focus on Technical Collaboration

Uppsala Security, a provider of security tools and services for Crypto AML/CTF, Transaction Risk Management, Regulatory Compliance, Transaction Tracking, and Cyber Security announced a significant collaboration with CryptoTax, a virtual asset tax service platform headquartered in South Korea. This strategic partnership is geared “towards fostering… Read More

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