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Crypto

Ripple expands services to Brevan Howard hedge fund

Ripple has expanded its cooperation with global alternative investment manager Brevan Howard, broadening services for institutional investors, blockchain media outlet U.Today reported on Oct. 6 local time. Ripple Prime will provide multi-asset prime brokerage, clearing and financial services to funds managed by Brevan Howard. Ripple said the structure focuses on improving collateral management and capital efficiency. The announcement did not include Brevan Howard buying XRP or using Ripple’s RLUSD stablecoin.

Finance

Financial sector hit by hacking, security vulnerabilities exposed across the board

South Korea\'s financial sector faced a security emergency after a string of hacks and personal data leaks. Shinhan Bank had customer information for about 25,000 people leaked, while KB Kookmin Bank and Hana Bank confirmed leaks involving 119 and 89 customers. Regulators said related IP addresses linked to the same attacker were found across seven firms, with external-facing services used as attack routes. Authorities are investigating possible automated attacks using AI tools and ordered an industrywide security review.

Finance

Global financial firms step up push into South Korea, targeting retail ETFs and institutional alternatives

Global financial firms are increasingly turning to South Korea as they expand local footholds to target demand from retail investors for overseas investment products and from insurers and pension funds for alternative assets. Alternative investment manager Hayfin said it will broaden cooperation with Korean institutional investors via its Seoul office. U.S. ETF managers Tradr ETFs and Tuttle Capital Management cited sizable Korean ownership in their assets.