Shinhan and Visa team up to test stablecoin issuance and B2B settlements in South Korea
Shinhan Financial Group will use Visa’s platform to test stablecoin issuance, remittance, and redemption while building new AI-powered payment models.
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South Korean funeral company reveals $33 million loss on leveraged ether ETF bet
A South Korean funeral services company has reported an unrealized loss of about 45 billion won ($33 million) tied to investments in leveraged ether (ETH) exchange-traded funds (ETFs). The Seoul-based Bumo Sarang, Korean for Parental Love, invested in the T-REX 2X Long BMNR Daily Target… Read More
South Korea to pilot blockchain deposit tokens for government spending in Q4
South Korea’s Ministry of Economy and Finance will begin testing blockchain-based deposit tokens for government spending in the fourth quarter as part of a broader push to modernize how public funds are managed. The ministry said the pilot to spend Treasury funds as digital currency… Read More
$44B BTC blunder puts South Korea regulators on alert
South Korea’s top financial watchdog is stepping up oversight of crypto markets days after a local exchange mistakenly distributed billions of dollars worth of bitcoin to users. The Financial Supervisory Service said Sunday it will launch planned investigations into “high-risk” practices that undermine market order,… Read More
South Korea’s digital asset bill delayed over who can issue stablecoins
South Korea’s long-awaited Digital Asset Basic Act (DABA), a sweeping framework meant to govern crypto trading and issuance in one of Asia’s most active digital asset markets, has been delayed amid disagreements among regulators over stablecoin issuance. The most significant disagreement centers on who should… Read More