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Finance

KOSPI enters pause as financial sector faces pressure for inclusive finance

South Korea’s stock market has surged on an AI semiconductor rally, pushing the KOSPI above 8,000 for the first time and lifting market value to sixth in the world, ahead of Taiwan. Brokerages posted strong first-quarter results as trading rose. Caution is also growing over volatility after the sharp run-up. Separately, “inclusive finance” has emerged as a key issue as banks and financial groups face pressure to expand support for vulnerable borrowers and strengthen public responsibility.

Crypto

Kraken parent Payward revenue jumps on tokenization expansion

Kraken parent Payward posted adjusted first-quarter revenue of $507 million, Cointelegraph reported. Payward said futures trading rose 51 percent from a year earlier. Assets on the platform climbed 11 percent to $40 billion, while the number of funded accounts increased 47 percent to 6.1 million. Its tokenized stock platform xStocks expanded supported names to 100 and plans to increase them to more than 500 by end-2026.

AI & Enterprise

OpenClo creator uses $1.3 million of AI tokens in a month

OpenClo creator Peter Steinberger has disclosed that he used $1.3 million worth of OpenAI API tokens over the past 30 days, prompting controversy. Business Insider reported he posted a screenshot on X showing token spending by AI coding tool, with 30-day cumulative use totaling $1.3 million. Steinberger said he works at OpenAI and does not pay the cost personally, describing it as a benefit tied to supporting OpenAI OpenClo.