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Crypto

Stablecoin land grab intensifies as banks and fintech form alliances

South Korea\'s finance and fintech sectors are stepping up competition to pre-empt the stablecoin market even as legislation remains stalled in parliament. Banks are moving to secure issuance rights through consortia and technology partners, while fintech firms and exchanges focus on controlling mainnets and payment networks. Global players are also positioning in networks and settlement infrastructure. The article says the battle for won and dollar stablecoin leadership is already under way.

Finance

Regional financial holdings post mixed Q1 net profit results despite asset growth

BNK, JB and iM financial holding groups posted asset growth in the first quarter, but their profit structures diverged. Combined net profit rose 9.9 percent from a year earlier to 532 billion won. BNK’s profit jumped 26.9 percent, while JB and iM were little changed. Differences emerged in non-interest income, expenses and asset quality indicators. All three saw capital units strengthen their role in earnings and expanded shareholder return policies.

Finance

Naver Pay signs deal with Jeonbuk Bank to support digital shift for local small merchants

Naver Pay said on Thursday it signed a strategic agreement with Jeonbuk Bank to improve the digital payment environment and boost the local economy in Jeonbuk Special Self-Governing Province, based on Npay Connect. The two sides plan to support small merchants’ transition to digital payment infrastructure and run joint marketing linked to JB Card. Npay Connect is an offline integrated terminal supporting multiple payment methods, including Facesign facial recognition payments.