Bank Indonesia, the Bank of Korea, and South Korea’s Ministry of Economy and Finance have introduced a local currency transaction framework to boost bilateral trade using the rupiah and won. This initiative aims to reduce exchange rate risk and improve transaction efficiency by facilitating direct currency transactions between the two nations, bypassing the need for…
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A slew of major South Korean securities companies – many of which may be affiliated with major commercial banks and business groups – could be set to launch crypto exchange platforms as early as next year. Per Newspim, “seven large domestic securities companies” have already applied to financial regulators for “preliminary approval” – and hope…
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South Korean banks could find themselves in the firing line after the government, media outlets, and regulators stepped up the scrutiny of the banks’ role in enabling kimchi premium traders to make fast money when trading volumes rise…. Read More: South Korean Banks May Be in Trouble as Regulator Probes Kimchi Premium Bitcoin ‘Irregularities’ Read…
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The South Korean banking giant Kookmin Bank (KB) says it has developed new multi-coin wallets that are capable of storing non-fungible tokens (NFT) and various tokens including central bank-issued coins. Per Fn News, KB has developed solutions using the Klaytn blockchain protocol, which was developed by the internet powerhouse and chat app operator Kakao….…
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