Tagged: south korea

July 18, 2021 @ 11:33 am By Omar Faridi  |  

Kristo Käärmann, Co-founder and CEO of Wise (previously dba TransferWise), which aims to make money work without borders, notes that they’re building the world’s most international account. 1/ @Wise Q2 Mission Update is here. Our team is 2,600 people now. How much progress did we… Read More

July 5, 2021 @ 12:19 pm By Omar Faridi  |  

Kakao Pay, a Fintech division of Kakao, which is the South Korean company that operates the KakaoTalk messenger app, reveals that it has submitted its initial public offering (IPO) filing. The company intends to secure as much 1.632 trillion Korean won (app. $1.4 billion) in… Read More

July 5, 2021 @ 10:56 am By Omar Faridi  |  

Startups currently being supported by the Swiss Innovation agency Innosuisse will soon have the option to visit Japan or South Korea in order to expand their businesses globally. These initiatives will be supported and facilitated by setting up two new camps this year to address… Read More

July 3, 2021 @ 9:42 pm By Omar Faridi  |  

KT, one of South Korea’s largest telecom companies, reveals that it will be investing KRW 23.6 billion (appr. $20.9 million) into the operations of Webcash Group. The investment will be part of a plan to form an alliance relationship for the B2B sector. Webcash Group… Read More

May 31, 2021 @ 2:34 pm By Omar Faridi  |  

F10, a leading Fintech startup incubator and accelerator program, has teamed up with Seoul Fintech Lab which is supported by the Seoul Metropolitan Government and K accelerator, a Fintech support center headquartered in Seoul. Through the partnership, both organizations will aim to expand their incubation… Read More

May 6, 2021 @ 9:46 am By JD Alois  |  

Streami has received a strategic investment from the Digital Currency Group (DCG), according to a release. Streami is based in South Korea and operates GOPAX, a crypto exchange. DCG is said to be the second-largest investor in Streami and previously participated in the Series A… Read More

May 4, 2021 @ 11:47 pm By Omar Faridi  |  

Uppsala Security has reportedly conducted the very first “Virtual Assets AML Training Program” for partners and government agency compliance officers. Uppsala Security, the provider of tools for Crypto Risk Management and Cybersecurity, revealed on May 4, 2021, that it has begun its Virtual Assets AML… Read More

April 26, 2021 @ 11:06 pm By Omar Faridi  |  

Uppsala Security, a provider of tools for Crypto AML, Risk Management, Regulatory Compliance, and Cybersecurity revealed on Monday (April 26, 2021) that with assistance from Bithumb, one of South Korea’s leading digital asset exchanges, it has helped a victim to “recover approximately 20 million KRW”… Read More

April 19, 2021 @ 8:58 pm By Omar Faridi  |  

Financial regulators in South Korea are reportedly discussing the launch of an updated regulatory framework for overseas remittances made by investors. These traders are allegedly trying to make huge profits by capitalizing on Bitcoin price gaps found on different cryptocurrency exchanges based in Korea and… Read More

April 5, 2021 @ 11:53 pm By Omar Faridi  |  

Uppsala Security, a provider of tools for Crypto AML, Risk Management, Regulatory Compliance, and Cybersecurity, has revealed they’ve entered into a contract to create a ‘Virtual Asset AML’ solution for the Coin&Coin exchange that “complies with the amendment of the Special Money Act in South… Read More

March 14, 2021 @ 6:56 pm By Omar Faridi  |  

Earlier this year, the team at Elliptic, which works to assist with categorizing financial crime typologies while protecting legitimate crypto-asset users from illicit activities, had explained how proper and effective compliance can prevent (potential) money laundering activities using Bitcoin (BTC) or other digital currencies. Elliptic… Read More

March 11, 2021 @ 11:10 pm By Omar Faridi  |  

South Korean authorities have stated that they’re planning to impose heavy penalties or fines on individuals and businesses violating applicable guidelines for cryptocurrency transactions. The Korean financial regulator stated that it would impose a fine on virtual currency exchanges if they fail to report suspicious… Read More

February 26, 2021 @ 12:07 pm By Omar Faridi  |  

LocalBitcoins, a peer to peer BTC exchange service, notes that Bitcoin is “swooping” over the world and Asia is now at “the center” of all the action. LocalBitcoins writes in a blog post that this should come as no surprise given all the opportunities Bitcoin… Read More

February 24, 2021 @ 8:16 am By Omar Faridi  |  

We recently connected with Markus Jun, the founder and CEO of ICON Hyperconnect Public Representative, a leading block validator for the ICON network with $20 million in total staked value, and Hyperconnector, an official accelerator partner of the ICON Foundation & ICX Station Seoul. Markus… Read More

February 19, 2021 @ 8:55 pm By Omar Faridi  |  

The ICON Foundation has confirmed that blockchain-enabled platform ICON, one of the largest DLT initiatives in South Korea, has introduced a dedicated audit fund. The initiative has been launched in order to support the secure development for ICON’s evolving ecosystem. The ICON Foundation noted that… Read More

February 10, 2021 @ 8:54 pm By Omar Faridi  |  

Crypto-asset savings platform ICONFi has introduced its mobile app on Android and iOS. As confirmed in a release shared with CI, available globally, ICONFi aims to offer simple, flexible, and fixed earning products that allow investors to grow and diversify their digital asset holdings. The… Read More

December 24, 2020 @ 5:50 pm By Omar Faridi  |  

The Industrial Bank of Korea (IBK) has teamed up with a platform managed by Naver’s Cloud affiliate for digital innovation and development of Fintech-related services, the state-run bank confirmed on December 23, 2020. Through the partnership, both organizations will aim to enhance their Cloud and artificial… Read More

December 23, 2020 @ 10:46 pm By Omar Faridi  |  

CIMB Bank Vietnam and Viva Republica, the operator of the Toss app (a payments service), have launched the CIMB-Toss debit card after the success of the CIMB and Toss virtual card – which was introduced in July of this year. Launched earlier this month, the… Read More

December 23, 2020 @ 10:51 am By Samantha Hurst  |  

  Haru, a South Korea-based digital asset management platform and a service brand name of Block Crafters, announced on Wednesday its total transaction volume has reached the $100 million milestone within 15 months of its official launch. Haru also revealed that its user number has… Read More

December 13, 2020 @ 6:55 pm By Omar Faridi  |  

Siam Commercial Bank (BKK:SCB) has partnered with Lightnet to provide cross-border fund transfer services from South Korea to Thailand. As a digital banking service provider, Siam Commercial Bank (SCB) is focused on continuously updating its Fintech capabilities. SCB will now be working with the Lightnet… Read More