Search results for Project Agora
Finance
KB Kookmin Bank validates deposit token payments with Japan\'s MUFG Bank
KB Kookmin Bank has completed a validation of cross-border payment scenarios using foreign-currency-based deposit tokens with Japan\'s MUFG Bank. It said this was the first time a South Korean commercial bank has tested deposit token payments with an overseas bank. The bank said it carried out the work as part of Project Agora, a global cooperation initiative jointly promoted by the Bank for International Settlements and the Institute of International Finance.
Finance
Mitos puts financial security to the test as network separation easing begins
Single-stock leveraged ETFs and ETNs tied to Samsung Electronics and SK Hynix sharpened semiconductor concentration in South Korea\'s stock market, with first-day turnover topping 10 trillion won. Regulators warned investors about amplified losses. Financial firms also stepped up responses to AI-driven cyber threats as the emergence of high-performance AI \"Mitos\" raised concerns about more sophisticated hacking, prompting authorities to review easing and possible full removal of network separation rules.
Finance
Korean commercial banks join BIS \'Project Agora\' to verify deposit token payment system
South Korea\'s five major banks - KB Kookmin, Shinhan, Hana, Woori and NH NongHyup Bank - have checked the potential to improve inter-institution payment transactions globally. The banks joined Project Agora, a joint initiative by the Bank for International Settlements and the Institute of International Finance. Participants tested whether blockchain technology and smart contracts can cut costs and time for large cross-border payments while maintaining the legal nature of reserves and deposits.
