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Crypto

Sh Suhyup Bank completes technology test for stablecoin-based loans and savings products

Sh Suhyup Bank has verified the technical feasibility of using stablecoins for key banking services, including savings products, loans and overseas remittances. The bank said it completed a proof-of-concept with fintech security firm Aton. Tests covered subscribing to and adding to installment savings, early termination, loans secured by stablecoins and procedures from application to collateral liquidation. It also tested converting a won stablecoin into a dollar-based stablecoin and sending it to an overseas digital wallet.

Crypto

Circle revises USDC redemption fees; standard free, express 0.05 percent

Circle will remove additional fees previously charged during the USDC redemption process, while keeping a base fee for its express service. Existing Circle Mint customers will be moved to the new pricing structure from their billing cycle after Oct. 19, with no separate application required. Redemptions will be offered in standard and express tiers. Standard is free, while express carries a 0.05 percent fee before conditional credits.

Crypto

Artists tear banknotes and draw Bitcoin in exhibition probing money in Amsterdam

An exhibition in Amsterdam will present Bitcoin not as an investment asset but as a subject for art and social critique. Three European artists - Jetra, RYR and Cypherpunk Now - will show works as part of the BMAG program during the Bitcoin Amsterdam event on Nov. 4-6. The works examine how money is created and concentrated, visualise the dollar’s value measured in Bitcoin, and reflect on how early Bitcoin ideals have changed as it is absorbed into mainstream finance.