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Finance

Korea Investment Securities\' JCR credit rating upgraded to \'A\'

Korea Investment Securities said Japan Credit Rating Agency (JCR) upgraded its long-term foreign-currency issuer credit rating to \'A\' from \'A-\'. JCR also raised the bond credit rating to \'A\' from \'A-\' and changed the outlook to stable from positive. JCR cited solid profitability, a diversified business portfolio, capital adequacy, and liquidity. Korea Investment Securities has expanded overseas funding, including issuing a total of 66 billion yen in bonds in Japan.

Crypto

Ripple to settle funding for U.S. stock trades with RLUSD in DriveWealth partnership

Ripple is partnering with DriveWealth to integrate blockchain-based payments and stablecoin settlement into traditional financial infrastructure. The companies plan to connect Ripple’s institutional payments infrastructure to DriveWealth’s global investment network. The partnership centres on RLUSD, a U.S. dollar-pegged stablecoin, with institutional settlement to start in Europe before expanding to the United States. The companies also aim to support collateral account funding and explore stock financing opportunities.

Finance

Shinhan Financial completes insurance puzzle with Lotte non-life deal but faces capital injection and profit recovery tasks

Shinhan Financial Group has completed the final piece of its insurance business by agreeing to buy Lotte Non-Life Insurance, but it now faces the task of improving profitability. Shinhan Financial signed an SPA to acquire 77.04% for 693.3 billion won, implying a company value of about 900 billion won. It plans to invest a total of 1.2 trillion won, including 300 billion won for capital strengthening, while analysts differ on the need for additional capital injections and the pace of profit recovery after integration.