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Crypto

U.S. asset manager seeks to register $75 million fund bundling XRP and ISO 20022 assets for retail investors

U.S. asset manager Gratus Reserve V has begun the process of registering a $75 million fund to offer retail investors an institutional-style digital asset strategy that includes XRP. It filed preliminary offering documents with the U.S. Securities and Exchange Commission to register a decentralised corporate treasury portfolio. The firm highlighted lower XRP trading costs via institutional OTC desks and plans to include ISO 20022-aligned assets as well as bitcoin, ether and solana.

Finance

Toss cuts savings bank Sunshine Loan special-case brokerage fees by 16 percent

Viva Republica, operator of Toss, will lower brokerage fees for savings banks offering special-case Sunshine Loan products on its loan comparison service. The move aims to reduce fee burdens for savings banks and expand the supply of public finance products for the lowest-credit borrowers. Toss said on Aug. 19 it will cut the fees by about 16 percent. Eight savings banks currently offer the product on Toss, and the cut applies through year-end.

Finance

Financial holding brokerages post about 1.41 trillion won Q2 net profit on brokerage boom

Brokerages under South Korean financial holding groups posted a combined net profit of about 1.41 trillion won in the second quarter, helped by increased stock market turnover, the investment industry said on Thursday. NH Investment & Securities and KB Securities set quarterly record results, while Shinhan Investment and Hana Securities extended growth on higher brokerage income. Woori Investment & Securities posted lower quarterly profit due to higher bad-debt costs.