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Crypto

Malaysia, Thailand join Singapore\'s Bloom digital currency initiative

Malaysia and Thailand have joined Singapore’s Bloom digital currency initiative, The Defiant reported on Thursday. The report said Visa, Mastercard and the World Bank Group are also included among participating organisations. The expansion focuses on tasks related to a cross-border settlement framework and interoperability. With the participant base widening, Bloom is strengthening its character as a multilateral cooperation effort beyond Singapore. Specific roles and digital currency details were not included.

Crypto

Thailand allows spot crypto ETFs, but approval this year uncertain

Thailand has implemented a framework allowing spot exchange-traded funds tied to bitcoin and ether, but no asset manager has submitted a formal application. The Thai Securities and Exchange Commission said several firms asked for preliminary consultations, but none moved to the filing stage. The SEC said it was too early to judge whether the first ETF could be approved this year, adding the timing could vary depending on applicant readiness, regulatory review and investor protection requirements.

Finance

KB Kookmin Bank enables QR payments in China without local app, offers 100 percent exchange rate preference

KB Kookmin Bank has launched a service on its KB Star Banking app that lets users make QR payments at merchants in China without installing a local payment app or registering additional personal information. The bank said it introduced an overseas payment service linked to NUCC, marking the first direct connection by a South Korean financial company to China’s national payment network. It also applies a 100 percent exchange rate preference and is running a promotional event through Dec. 21.