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Crypto

MoonPay steps up push into South Korea, hires Hi Hangyeol Choi as VP of Strategy

MoonPay, a global crypto payments and stablecoin infrastructure company, said on Sept. 17 it hired former Streami vice president Hi Hangyeol Choi as MoonPay Korea\'s VP of Strategy. The company plans to use his appointment to expand cooperation with domestic financial companies and key partners. Choi previously worked at Mirae Asset Securities and IBK Industrial Bank of Korea, and spent more than eight years at Streami, operator of the GOPAX won-based crypto exchange.

Finance

Productive finance plan expanded to 1,560 trillion won; FSC to prepare additional liability exemption measures

South Korea\'s government and financial sector will expand their productive finance supply plan for the next five years to 1,560 trillion won, up 310 trillion won from 1,250 trillion won. The Financial Services Commission also plans additional liability exemption measures to support more active investment and lending by financial companies. Officials discussed implementation and management steps at a meeting in Seoul led by Vice Chairman Kwon Dae-young.

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.