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Finance

Jeju Bank unveils 'DJ Bank'; Shinhan chair says ERP banking can help surpass regional bank limits

Jeju Bank unveiled the first solutions for its digital corporate finance brand, DJ Bank, on Wednesday at Thezoin Eulji Tower in central Seoul. The event presented the basis for an ERP-banking business alongside the brand’s launch. The solutions include an alternative credit evaluation model, a corporate parking account product, loans to support AX solutions and an ERP-linked receivables-backed loan. Shinhan Financial Group Chairman Jin Ok-dong said ERP banking is a new corporate finance model.

Crypto

Arizona bill advances to stockpile seized XRP instead of auctioning crypto

A bill in the U.S. state of Arizona that would allow the state government to stockpile cryptocurrencies obtained through seizures or voluntary surrender, rather than selling them, has advanced to a full House vote. Senate Bill 1649 cleared the House Rules Committee with unanimous support. It would create a Digital Assets Strategic Reserve Fund managed by the state treasurer and include XRP, bitcoin and several other tokens. The bill would then go to the governor.

Crypto

Google unpublished quantum attack circuits already reproducible, warning flags bitcoin security threshold

Warnings that quantum computing could threaten cryptocurrency security have resurfaced, with some experts arguing even unpublished attack methods can already be reproduced. Ben Goertzel said Google’s secrecy is unlikely to be a real defense and highlighted an on-spend attack scenario that could break encryption in about 9 minutes, implying a 41 percent success probability. Analysts said about 6.9 million bitcoin may be exposed. Google has urged a shift to post-quantum cryptography by 2029.