Tagged: south korea

March 30, 2025 @ 10:12 pm By Michael Wong  |  

South Korea’s cryptocurrency market continues to grow, with the number of virtual asset investors surpassing 16 million, nearing the total number of stock investors in the country, news agency Yonhap reported. Data submitted to Rep. Cha Gyu-geun of the minor opposition Rebuilding Korea Party indicated… Read More

February 27, 2025 @ 10:03 pm By Omar Faridi  |  

BDACS, a digital asset institutional custody firm in Korea, announced that it has signed a partnership with enterprise blockchain firm Ripple, the provider of digital asset infrastructure for financial institutions. This partnership reportedly aligns with the Financial Services Commission’s (FSC) announced roadmap for “regulatory approval… Read More

February 23, 2025 @ 7:50 pm By Omar Faridi  |  

CapitaLand Investment Limited (CLI), a real asset manager, closed South Korea private credit fund with a total equity commitment of KRW 180 billion (S$169.2 million), “increasing its funds under management in its focus market of South Korea to S$3.1 billion.” The CapitaLand Korea Investment No…. Read More

December 16, 2024 @ 10:43 pm By Omar Faridi  |  

In a move towards climate accountability, The HBAR Foundation has issued a grant to WinCL to elevate carbon transparency and greenhouse gas (GHG) accounting standards for SMEs and large enterprises across South Korea. Built on Hedera’s Guardian platform, WinCL’s solution promises streamlined emissions tracking, reporting,… Read More

December 7, 2024 @ 2:20 pm By Tony Zerucha  |  

Political turbulence in Europe and Asia is driving renewed focus on decentralized, non-government-backed currencies like Bitcoin. That is one reason why deVere Group CEO Nigel Green sees the cryptocurrency’s value topping $120,000 in the coming months. Green made the comments in the wake of a… Read More

December 2, 2024 @ 10:41 pm By Omar Faridi  |  

World ID Credentials are now reportedly being piloted in select countries including Chile, Colombia, Malaysia and South Korea. This secure and “anonymous” World ID feature increases global access to World Network and paves the way for “increased World ID utility.” It also enables consumers to… Read More

December 1, 2024 @ 6:22 pm By Michael Wong  |  

South Korea’s main opposition Democratic Party of Korea (DPK) agreed on Sunday to postpone the implementation of a controversial cryptocurrency tax by two years, responding to mounting investor backlash and political pressure. The decision mirrors the party’s move a month earlier to scrap a planned… Read More

November 24, 2024 @ 6:40 pm By Michael Wong  |  

South Korea’s Financial Supervisory Service (FSS) plans to enhance the monitoring of abnormal transactions in virtual asset exchanges as market volatility intensifies, particularly following the U.S. presidential election. This move aims to address gaps in current systems and bolster consumer protection measures. Virtual asset exchanges… Read More

November 18, 2024 @ 10:04 pm By Omar Faridi  |  

South Korean authorities are reportedly investigating crypto exchange Upbit for numerous KYC (Know Your Customer) violations. Due to these reported compliance failures at the Korean exchange, Upbit might have to pay fines as high as $71,500 for each case along with potential issues with its… Read More

November 17, 2024 @ 6:09 pm By Omar Faridi  |  

Kaspersky is announcing the opening of its latest Transparency Center in Seoul, South Korea, reaffirming its commitment to delivering the best security assurance for its products and services. Located in the Kaspersky office, the new facility will provide “the company’s stakeholders with services ranging from… Read More

October 26, 2024 @ 2:12 pm By Michael Wong  |  

South Korea is set to strengthen oversight of cross-border virtual asset trading, including cryptocurrency, with revised regulations slated for enactment by late 2025, according to reports. The government aims to revise the Foreign Exchange Transactions Act in collaboration with relevant agencies, intending to curb illegal… Read More

September 5, 2024 @ 11:12 am By Omar Faridi  |  

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

July 30, 2024 @ 5:02 pm By Omar Faridi  |  

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

July 20, 2024 @ 9:22 am By Michael Wong  |  

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

July 2, 2024 @ 9:03 am By Omar Faridi  |  

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

May 19, 2024 @ 9:29 am By Michael Wong  |  

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

May 13, 2024 @ 10:57 pm By Omar Faridi  |  

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

April 7, 2024 @ 8:16 pm By Michael Wong  |  

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

April 2, 2024 @ 11:54 am By Omar Faridi  |  

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

February 1, 2024 @ 3:42 pm By JD Alois  |  

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