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Crypto

South Korea government, ruling party step up push for digital asset framework law this year

South Korea aims to complete digital asset legislation this year, and the ruling Democratic Party is pushing to submit a government-party package in September. A senior Financial Services Commission official said stablecoin legislation will be wrapped up quickly and will cover definitions, market rules and user protection. Key sticking points include who can issue won-based stablecoins, licensing and reserve management, AML rules, and limits on major shareholders of exchanges. The party plans to rebuild its task force after August leadership appointments.

Finance

KakaoBank introduces UI, UX and agile culture to UAE delegation

KakaoBank hosted a delegation of about 30 participants from the United Arab Emirates\' NAFIS Leadership Programme at its Pangyo office on July 20, it said on Tuesday. The visitors included officials from the UAE Prime Minister\'s Office, the Emirati Talent Competitiveness Council and the National University of Singapore, as well as staff from major UAE financial firms. KakaoBank presented its customer-focused UI and UX, technology-driven development approach and agile organisational culture.

Finance

Hecto Financial joins global AI payment standard x402 to accelerate AI agent payments

Hecto Financial is stepping up its AI agent payment business by taking part in building a global AI payment standard. The company said on July 20 it joined the x402 Foundation, an open-source project developing standards for AI agent payments. It plans to combine its existing payment and settlement infrastructure with the Circle Payment Network and x402. Hecto Financial also completed a proof of concept based on Google’s AP2 standard and aims to commercialise it in the third quarter.