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Finance

KakaoBank launches foreign currency account event, $100 draw for collecting three currencies

KakaoBank is running an event for its foreign currency account customers in which it gives out random foreign currency. The promotion runs until Sept. 20. Customers can join by tapping a button on the event page in the KakaoBank app, and the currency is deposited immediately into their foreign currency account. If a friend participates for the first time via a shared link, the customer gets one extra draw. KakaoBank will award $100 to 100 customers who collect at least three currencies.

Fintech

Hana Bank\'s Travelog foreign currency account tops 100,000

Hana Bank said on Aug. 24 that sign-ups for its Travelog foreign currency demand deposit account surpassed 100,000 about 10 months after launch. The account links foreign currency storage, payments and investment, connecting Hana Financial Group\'s Travelog travel service with Hana Bank\'s foreign currency deposits and Hana Securities\' overseas stock trading. Customers can charge foreign currency into \"Foreign Currency Hana Money\" without fees and keep unused funds to earn interest. Up to 10 currencies can be deposited, with a combined limit of $10,000.

Finance

KakaoBank debit card cumulative payments top 154.9 trillion won as it expands payment services

KakaoBank said cumulative payments made with its debit cards have exceeded 154.9 trillion won since the cards were launched in July 2017 through the first half of this year. The company plans to broaden usage areas and expand payments into a core financial service. It also plans to launch new debit cards, including foreign-currency account-linked and foreign-resident-only cards, and will review applying new payment technologies such as stablecoins and CBDCs.