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Crypto

Citi links with Coinbase for stablecoin payments without direct crypto holdings

Citi institutional clients can now accept stablecoin payments without directly holding cryptocurrencies. Coinbase has connected its payment infrastructure to Citi\'s merchant payments platform, Spring by Citi. Customers can pay in stablecoins at checkout, with Coinbase converting the funds into fiat currency and Citi settling them as the account management bank. The companies will first launch the functions in the United States and plan to add features in coming months.

Telecommunications & Media

Chinese short dramas close in on OTT rivals

Short dramas of about 1 to 3 minutes an episode are emerging as a new rival to online video services. Global short-drama platform ReelShort has already surpassed major OTT services such as Netflix and Disney+ in mobile viewing time. Usage across short-drama apps is rising quickly, and sales are forecast to grow this year. China is expanding production using generative AI, while concerns are growing over addiction, spending and content quality.

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.