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Crypto

Danal to pursue stablecoin payments with VASP INX

Danal will work with virtual asset service provider Infinity Exchange Korea (INX) to build digital asset-based payment and settlement infrastructure including stablecoins. The companies signed an MOU to link Danal’s payment gateway and prepaid electronic payment infrastructure with INX’s VASP infrastructure and digital asset API solutions. They plan to roll out stablecoin payments for merchants, payments and remittances for visitors and students, and T+0 real-time settlement, while applying AML-related controls.

Crypto

Digital asset alliances emerge as banks, brokerages and asset managers race to team up

South Korea\'s financial sector is moving competitively to form digital asset alliances, as brokerages expand exchange investment and token securities while banks and asset managers accelerate partnerships. Shinhan Financial Group signed an agreement with Visa to verify stablecoin platform functions and design models for the domestic market. Woori Bank and Coupang completed a proof of concept for real-time settlement. K Bank, Toss and Jeonbuk Bank also announced tie-ups, while some banks invest directly in custody firms as lawmakers debate digital asset legislation.

Crypto

Sh Suhyup Bank secures 14.95% stake in Infiniteblock to expand digital asset business

Sh Suhyup Bank has secured a 14.95% stake in South Korean digital asset custodian Infiniteblock and will seek new businesses related to digital assets. The bank said it signed a strategic partnership agreement at its headquarters in Seoul, attended by CEO Shin Hak-gi (신학기) and Infiniteblock CEO Jung Gyu-tae (정규태). The investment makes Suhyup Bank a joint second-largest shareholder. The firms plan cooperation on new business models and blockchain-based technology.