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Finance

Dcamp to share five startup cases linking financial services on June 24

Startup growth partner Dcamp will hold its \'Startup OI #Financial Sector\' event with the Korea Fintech Support Center on June 24 at Dcamp Mapo. Five startups — Goi Funeral Research Institute, Terafai, Tnaps, Whatsub and Wello — will present alongside financial institutions\' collaboration managers. They will outline problem-solving processes, data and technology-based synergies, business outcomes and future cooperation plans. Awards will be given for best and outstanding cases after presentations.

Crypto

Woori Bank to pursue easy payment infrastructure for foreign visitors with Crosshub

Woori Bank plans to develop a foreigner-only digital wallet to improve payment convenience for foreign visitors to South Korea. The bank signed a memorandum of understanding with fintech startup Crosshub on June 10 to jointly develop services aimed at easing payments for visiting foreigners. The partners aim to launch the wallet in the second half. They also plan a prepaid card charged in the user’s home currency and to test a stablecoin-based payment environment.

Crypto

Nasdaq-listed Fold sells bitcoin to pay off secured debt; shares surge 162 percent intraday

Nasdaq-listed bitcoin rewards fintech company Fold sold about $45 million worth of bitcoin to repay its secured bitcoin-backed debt in full and secure growth funding. It used $20 million to repay the debt and reallocated the remaining $25 million for business expansion. The company expects improved cash flow and lower financial risk. Shares jumped as much as 162 percent intraday after the announcement.