Finance

Digital asset institutionalisation picks up pace as big platforms clash over entry into online lending industry

Cooperation between traditional financial firms and crypto-asset operators is expanding, with moves by Kakao Group, brokerages and exchanges. In the United States, the OCC gave preliminary approval to two digital banks pursuing crypto custody and stablecoin business. In South Korea, the Democratic Party plans to draw up a Digital Asset Basic Act this year. Competition is also shifting across platform finance, raising questions about entry rules, conflicts of interest, consumer choice and security.

People & Appointments

KB Securities donates products made by people with developmental disabilities to Green Umbrella

KB Securities has launched a corporate social responsibility initiative to support job creation for people with developmental disabilities and provide healthy food to youths from multicultural families. The company said it bought products made at Bravo Beaver, a disability standard workplace it has invested in, and donated them to the social welfare corporation Green Umbrella. The donated items include granola, yogurt bowls and nut sets.