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Finance

Deposit tokens push into payment networks, accelerate capital market overhaul

Deposit-token trials are spreading from payment gateways and merchant networks to cross-border payments, shifting the commercialisation race from issuance to where tokens can be used. Payment and settlement at the same time could cut small merchants’ fees and settlement periods. Inclusive finance is expanding by borrower type as banks tailor products and fintechs support fees. Regulators are weighing tighter limits on single-stock leveraged products. Market reforms also tighten scrutiny of duplicate listings and low-PBR firms.

Finance

Toss Payments joins pilot for deposit token payment infrastructure

Toss Payments, the payment gateway unit of Viva Republica, is taking part in a private pilot to connect deposit tokens to existing payment networks. The company plans to build infrastructure that supports deposit token payments without merchants replacing terminals or developing separate systems. Toss Payments said it was selected as the preferred bidder for a project under the Blockchain Innovation Leading Project led by the Ministry of Science and ICT and the Korea Internet & Security Agency.

Finance

KB Kookmin Bank validates deposit token payments with Japan\'s MUFG Bank

KB Kookmin Bank has completed a validation of cross-border payment scenarios using foreign-currency-based deposit tokens with Japan\'s MUFG Bank. It said this was the first time a South Korean commercial bank has tested deposit token payments with an overseas bank. The bank said it carried out the work as part of Project Agora, a global cooperation initiative jointly promoted by the Bank for International Settlements and the Institute of International Finance.