Tagged: south korea

Is South Korea Backtracking on ICO Ban? FSC Vice Chair Moderates Stance on Token Offerings as New Task Force is Formed

This past week saw a bit of reversal in South Korea’s stance on Initial Coin Offerings (ICO). In September, it was reported that Korea had decided to totally ban ICOs following a similar approach by China. But during a presentation at the National Assembly by… Read More

Wow. P2P Money Transfer Service Toss is Processing $1 Billion per Month in South Korea After Less than 3 Years of Operations

In 2015 Viva Republica launched Toss, a peer to peer money transfer App that has become one of the world’s fastest growing financial Apps have now transacted more than USD$ 10 billion with a current run rate of $12 billion per year with $1 billion per… Read More

WorldRemit Launches Digital Money Transfers to South Korea

Digital money transfer service WorldRemit announced on Sunday it has expanded its remittance service to South Korea. WorldRemit stated that its mobile-first, digital model allows hard-working migrants to send money to South Korea in a few taps, directly from their phones or through the WorldRemit website without the need to visit… Read More

First Ever Nigerian Bobsled Team Raises $75,000 Through GoFundMe to go to the 2018 Winter Olympics

Nigeria officially has its first bobsled team, all thanks to the team’s crowdfunding campaign on GoFundMe. The team, which consists of female athletes Seun Adigun, Ngozi Onwumere, and Akuoma Omeoga, launched the initiative in January, seeking $75,000 so that they could get the 2018 Winter Olympic… Read More

Swiss Greater Zurich Area AG Signs MOU with Fintech Center of South Korea during Demo Day

The FinTech Center of South Korea, chaired by Yushin Jung, held its 20th FinTech Demo Day. In the day’s event, relevant personnel from the Financial Services Commission, Financial Supervisory Services and relevant organizations as well as overseas FinTech support organizations, VCs and Accelerators participated to… Read More

Singapore-Korea Fintech Collaboration: Marvelstone Group & Seoul Metropolitan Sign MOU

  Marvelstone Group, the creators of LATTICE80 in Singapore, has signed a memorandum of understanding (MOU) with the Seoul Metropolitan Government to partner on Fintech. Earlier today, a signing event took place at LATTICE80 where representatives of Marvelstone Group joined with representatives from South Korea… Read More

Report: South Korea to Punish ICOs as Officials Look to Strengthen Crypto Regulations

A joint task force took place this weekend in South Korea addressing the burgeoning cryptocurrency market. According to a report in BusinessKorea, The Financial Supervisory Commission (FSC), the Korea Fair Trade Commission (KFTC) and the National Tax Service (NTS) came together to review digital currencies,… Read More

China: WeiyangX Fintech Review

China Sets up Centralized Clearing Platform for Online Payments The People’s Bank of China, the country’s central bank, has required all banks and third-party payment institutions to connect to a unified platform by June 30 of 2018 to ensure effective regulation and transaction security. The… Read More

South Korean Fintech Startup Paycock Set to Bring Mobile Payment Service to Russian Financial Market

South Korean fintech startup Paycock has reportedly signed a business MOU with AEB IT, a Russian financial IT corporation, and will now begin to commercialize its mobile payment solution into the Russian financial market. Paycock Check is described as a mobile payment service that does… Read More

Currencycloud Partners with Hyundai For Seamless International Payments in South Korea

Cross-border payment platform Currencycloud announced on Monday it is teaming up with Hyundai Card to enable the launch of South Korea’s first mobile remittance service provided by a credit card company. The service will be established by Currencycloud and Hyundai Motor Group’s credit issuing arm… Read More

Jumpstartfund’s Hyperloop Transportation Technologies Signs Agreement to License Technology in South Korea

Jumpstartfund’s Hyperloop Transportation Technologies, Inc. (HTT) announced on Tuesday it has signed an agreement with South Korea government’s Department of Technological Innovation and Infrastructure, the Korea Institute of Civil Engineering and Building Technology (KICT), as well as with the country’s engineering research school, Hanyang University, to… Read More

South Korean Life Insurance Company Kyobo Life Tests Blockchain

Last week, the South Korean government selected life insurance company, Kyobo Life, to pioneer blockchain technology for the money payments of commercial insurance. This new project aims to create a foundation for promoting the Internet of Things (IoT) infrastructure in South Korea. This government sponsored… Read More

Pi Capital Named Financial Advisor & Placement Agent to Money360 For $250 Million South Korean Financing Vehicle

On Tuesday, Pi Capital announced it was named financial advisor and placement agent to Money360 for its $250 million South Korean financing vehicle, which designed to allow the online lender to employ funding as it provides commercial real estate loans to its U.S. client base. Steve Carlson,… Read More

Money360 Affiliate M360 Advisors Registers Fund with South Korea Financial Supervisory Service

Money360 announced on Monday its commercial real estate fund affiliate, M360 Advisors, successfully registered with the South Korea Financial Supervisory Service (FSS). According to the marketplace lending platform, the FSS registration allows South Korean hedge funds, corporations, pension funds, insurance companies, and other institutional investors to participate… Read More

The Development of Investment Crowdfunding in South Korea

The Amendments to the Financial Investment Services and Capital Markets Act (the Capital Markets Act) passed the South Korean Parliament in July 2015 and went into effect on January 25th, 2016, laying the framework for investment crowdfunding in South Korea. The adoption of investment crowdfunding… Read More

Brief: Korea Fintech Center Signs MOUs With 500 Startups & Silicon Valley Forum

The Korea Fintech Center has signed a memorandum of understanding (MOUs) with two Silicon Valley organizations, 500 Startups and Silicon Valley Forum.  500 Startups is described as a global venture capital company and startup accelerator. It has supported 1,700 startups in over 50 countries. Silicon Valley… Read More

South Korean Woori Bank Partners with Vietnamese M-Service to Advance in Southeast Asian Market

The South Korean commercial bank Woori Bank Co. has partnered with the Vietnam-based mobile banking service provider M-Service, according to Pulse News, aiming to strengthen its presence in the Southeast Asian financial market.  Woori Bank has opened over 200 global financial service outlets, with two offices already in Vietnam, in… Read More

Asia Pacific Research: Dramatic Growth in Alternative Finance is Fueled by Huge China Market

The Asia-Pacific Alternative Finance Benchmarking Report has just been published and it highlights the largest region in the world for disruptive finance. Entitled, “Harnessing Potential”, this is the first report for the region and has been created by a partnership of researchers, including the Cambridge… Read More

Smart Button Can Flip Your Switches (And More) From A Distance: Microbot Push

With the push of a button, a new device allows you to silence that single question and peace of mind on your vacation (or perhaps just another workday): Did I turn off the straightening iron/light/air conditioner/coffee pot? For those who prefer not return home solely to confirm… Read More

“Get Smart, Fund Art”: Tumblbug, South Korean Creative Arts Crowdfunding Platform, Raises KRW 17 Billion in Series A Investment

“Get smart, fund art”: With a playful slogan (translated) and name that reminds this writer of a children’s toy, Tumblbug, a South Korean crowdfunding platform, is taking big steps in its development. The company just announced that it has raised KRW 17 billion (just over US… Read More