Search results for DigitalX
Finance
Digital asset institutionalisation picks up pace as big platforms clash over entry into online lending industry
Cooperation between traditional financial firms and crypto-asset operators is expanding, with moves by Kakao Group, brokerages and exchanges. In the United States, the OCC gave preliminary approval to two digital banks pursuing crypto custody and stablecoin business. In South Korea, the Democratic Party plans to draw up a Digital Asset Basic Act this year. Competition is also shifting across platform finance, raising questions about entry rules, conflicts of interest, consumer choice and security.
Crypto
Korbit under Mirae Asset offers 1-year zero fees, raising questions over exchange race
Korbit, now under Mirae Asset Group, has made trading fees free for one year on all assets in its won market, seeking to boost volume and liquidity. The move is unlikely to shake the dominance of Upbit and Bithumb but could affect Korbit’s competition with Coinone for third place. Market activity has weakened, with average daily turnover at major won exchanges down sharply from January. DigitalX also approved a roughly 50 billion won capital increase.
Crypto
Korbit changes company name to DigitalX, service name to be revamped later
DigitalX Co Ltd, which operates Korbit, said it has completed registration of a corporate name change effective Aug. 11. The former corporate name was Korbit Co Ltd. The change applies only to the corporate entity, and the Korbit name used on the app, website and customer communications will remain for now. It said service operations, asset custody and personal data processing will stay the same. The company plans to change the exchange service name later but has not disclosed timing or the new name. It also warned users about phishing attempts.