Search results for financial regulatory sandbox
Crypto
Lucentblock calls for additional licences for fractional investment distribution, weighs legal action
Heo Se-young (허세영), CEO of Lucentblock, called on South Korea\'s financial authorities to grant additional licences for over-the-counter brokerage in fractional investment distribution. He questioned the process by which the Financial Services Commission limited licences to a maximum of two and urged greater disclosure of the basis for the cap. He also raised concerns over how regulatory sandbox businesses are incorporated into formal rules. He said the firm could consider legal action if additional licensing is delayed.
Crypto
Sh Suhyup Bank joins InfiniteBlock prepaid funds verification solution pilot
Sh Suhyup Bank will take part in a pilot of InfiniteBlock’s blockchain-based solution for managing prepaid electronic payment instruments. The bank said on Oct. 7 it will join a financial regulatory sandbox consignment test of InfiniteBlock’s issuance and records management solution and run the pilot for 1 year. The system records and manages issuance and transaction data on a blockchain, enabling real-time verification of outstanding balances and deposits.
Finance
Big tech financial platforms tighten internal controls; banks compete for young customers
Internal controls for fintech financial platforms are being tightened as concerns grow that system failures in payments, transfers and top-ups could quickly harm consumers and erode trust. Financial authorities have urged big tech e-finance operators to build IT stability and internal control systems comparable to traditional financial firms, while also revising support tools such as the financial regulatory sandbox. Banks are also stepping up competition for young customers as a youth savings product draws strong early demand.
