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Finance

Shinhan Bank launches non-face-to-face fund subscription service in child's name

Shinhan Bank has launched a non-face-to-face service that allows parents to subscribe to a savings-type fund in their child's name without visiting a branch. The bank said it introduced the "Create Our Child Fund" service on its Shinhan SuperSOL app. After verifying the family relationship in the app, parents can open an account and subscribe to the fund regardless of time or location. Shinhan said it prepared the service to meet demand for diverse financial products.

Crypto

Tether to end gold-backed stablecoin aUSDT and Alloy after two years

Stablecoin issuer Tether will end its gold-backed stablecoin aUSDT and its issuance platform Alloy by Tether two years after launch, Cointelegraph reported on June 18. Tether made the decision after reviewing user activity, market demand and company priorities. It plans to focus resources on areas with strong demand and broader long-term market opportunities, including its gold-linked digital asset XAUT. Users can mint aUSDT by depositing XAUT as collateral via Alloy.