| Mobile Web

Search results for internet banks

Finance

National Participation Growth Fund sells out as financial sector steps up payment ecosystem expansion

South Korea\'s National Participation Growth Fund effectively sold out on its first day of sales, with more than 87 percent of supply taken up and some online allotments closing in 10 minutes. Financial authorities are reviewing options to bring forward next year\'s supply or add more, with additional sales in the second half also discussed. Markets also saw spillover effects, while financial institutions and fintech firms moved to expand payment ecosystems and data-driven services.

Finance

Korea\'s three internet banks beat Q1 lending targets for mid-to-low credit borrowers

South Korea’s three internet-only banks expanded lending to mid-to-low credit borrowers in the first quarter, exceeding financial authorities’ targets. KakaoBank recorded a 32.3 percent share of outstanding loans and a 45.6 percent share of new lending to such borrowers. K Bank and Toss Bank also surpassed targets. The banks said many borrowers saw credit scores rise within a month of taking loans, supported by upgraded alternative credit scoring models.

Finance

Stablecoin race for control spreads, KOSPI nears 7,000

Competition over global payment infrastructure centered on stablecoins is spreading across the financial industry. Hana Financial Group is moving to cooperate on blockchain-based remittances with Dunamu and POSCO International, while Visa is expanding its stablecoin pilot and adding five more blockchains. U.S. banks are calling for stronger in-house blockchain strategies, and Shinhan Card is expanding a Solana-linked proof-of-concept. Markets also remain strong, with the KOSPI holding above 6,600 and repeatedly hitting record highs.