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Crypto

Korea digital asset market cap down 33 percent in H1, trading volume falls 44 percent

South Korea’s digital asset market saw sharp declines in the first half of the year, with total valuation down 33 percent to 58.9 trillion won and trading volume down 44 percent to 555 trillion won. Average daily trading also fell. Won deposits dropped 35 percent. The number of tradable user accounts rose 0.4 percent to 11,175,000. Exchange revenue and operating profit declined, and the number of circulating digital assets decreased.

Finance

P2P lenders gain momentum as rules ease; financial CEO appointments gather pace

Korea\'s online investment-linked finance industry is accelerating mid-rate lending to mid-to-low credit borrowers and sole proprietors after regulatory improvements. The Financial Services Commission plans to raise self-funding investment limits and financial-company linked investment caps, and expand limits for general investors. Major financial institutions are also stepping up CEO selection processes, while regulators tighten oversight of bank asset quality, governance and internal controls. Payment and digital-asset businesses widen partnerships and services.

Crypto

Hana Bank joins hands with Upbit Global to co-research Travel Rule technology

Hana Bank will work with Upbit Global on technical cooperation to build a Travel Rule-based infrastructure for digital asset transfers. The bank said it signed an MOU at its headquarters in central Seoul to support safe transfers and establish a basis for regulatory compliance. The two sides plan to jointly respond to changes in laws and regulations, and to research and test transfer technology and infrastructure.