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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.

Finance

Naver Pay to supply payment infrastructure to Sidae Injae operator, first applied to 11 branches and online

Naver Pay will supply corporate payment infrastructure to Hyconci, which operates Sidae Injae, expanding its B2B payment business into education. The service will be applied first within this year to 11 offline branches nationwide and to an online service, then expanded in stages. The companies will introduce the Npay biz payment solution, supporting Npay Money and points, card payments and virtual account-linked payments. They will also review cooperation in access and attendance authentication using Npay Connect and Facesign.

Finance

Naver Pay expands Npay Connect support for local currencies including Seoul Pay and Daegu-ro Pay

Naver Pay is expanding links between its offline integrated terminal, Npay Connect, and local currency payments, adding Seoul Pay, Daegu-ro Pay and Pohang Love Gift Certificates. Users can pay by QR code at participating merchants where the relevant local currency is accepted. Naver Pay plans to guide affiliated stores on the added function through local governments and related operators and agencies, and link it to a fee support program for small merchants.