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Finance

South Korean investment firms step up ties with Japanese financial companies

South Korea\'s financial investment industry is expanding cooperation with Japanese financial companies through acquisitions, partnerships and research exchanges. Mirae Asset Securities plans to buy Sanko Securities for about 47.6 billion won and invest 12 billion yen. Hanwha Investment & Securities signed an SPA to acquire a securities unit of GI Capital Management. Shinhan Investment Corp discussed cooperation with Mizuho Securities and Rakuten Securities. Blockchain firm DSRV joined partners to test a stablecoin remittance and payment model.

Crypto

Ripple\'s RLUSD lists on Coinbase, opens access at top U.S. crypto exchange

Ripple’s dollar-pegged stablecoin RLUSD has been listed on Coinbase, the largest U.S. cryptocurrency exchange. Retail and institutional clients can trade and manage RLUSD across Coinbase Prime, the Coinbase exchange and the Coinbase retail app, with 1-for-1 conversions from U.S. dollars and supported dollar-denominated stablecoins. Coinbase also supports RLUSD deposits and withdrawals on XRP Ledger, Base and Ethereum. Ripple said RLUSD’s market value has risen to about $2.58 billion.

AI & Enterprise

BlackRock to work with SBI, Statele on linking tokenised MMF with yen stablecoin

BlackRock is working with SBI Holdings and Statele Group to link a tokenised money market fund with a yen stablecoin, The Block reported. SBI and Statele signed an MOU with BlackRock Financial Management and BlackRock Japan to review connecting the tokenised MMF to SBI’s yen stablecoin JPYSC. The partners will cooperate on technology and infrastructure, business and distribution, and regulatory and market development.