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Finance
Shinhan Investment signs MOU with NXT and seven fractional investment firms
Shinhan Investment & Securities said on Wednesday it signed an MOU with Nextrade and seven fractional investment firms as the Nextrade (NXT) consortium secured preliminary approval for an over-the-counter fractional investment exchange. The agreement aims to build a value chain covering issuance, distribution and settlement for a planned distribution market. The nine participating companies also plan joint reviews of business models, responses to legal and institutional changes, and joint promotion.
Finance
KDX, NXT chosen for STO over-the-counter exchange pilot; Lucentblock left out
South Korea\'s Financial Services Commission selected the Korea Exchange-Koscom KDX consortium and the NextTrade-Musicow NXT consortium as preliminary license candidates to open a pilot over-the-counter exchange for tokenised securities. The FSC granted NXT conditional approval, saying it would halt the full licensing review if the Fair Trade Commission opens an administrative probe into technology theft allegations raised by Lucentblock. Lucentblock was dropped after receiving a lower evaluation score.
Finance
Google gains global payments clout as Korean financial groups step up growth industry support
Big Tech companies are pushing deeper into fintech, but results vary. Google has secured more than 150 million Google Pay users mainly in India and the United States, while Meta has yet to show clear traction since its Diem cryptocurrency project stalled. PayPal is moving to expand into AI and commerce, including a planned acquisition. In South Korea, financial groups and banks are rolling out funds, startup support and partnerships to back AI and other growth areas.
