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Finance

Eight Percent acquires Apanda Partners to expand alternative investment platform

Online investment-linked finance company Eight Percent is acquiring token securities operator Apanda Partners to expand into the digital alternative investment market. Eight Percent said it made a strategic investment to become Apanda Partners\' largest shareholder. Key shareholders were reshuffled to include Eight Percent, Shinhan Investment Corp and EQBR. Apanda Partners plans to structure various asset-backed claims into digital products and will independently handle securities-related work after obtaining required approvals.

Crypto

Morgan Stanley\'s E*Trade partners with Zero Hash to start spot cryptocurrency trading

Morgan Stanley\'s online investment platform E*Trade has started spot cryptocurrency trading for eligible retail clients, offering bitcoin, ether and solana. The service is provided through a partnership with crypto infrastructure company Zero Hash. Eligible customers can buy, sell and hold cryptocurrencies on E*Trade and view holdings alongside traditional assets. Transfers of digital assets into and out of the platform are expected to be added by year-end.

Finance

South Korea curbs P2P stock loans, caps new issuance at 30 percent

South Korea\'s financial authorities will limit the size of new stock-loan issuance and set borrower-by-borrower loan caps for the online investment-linked finance sector, after stock loans expanded rapidly amid a recent stock market rally. The Financial Services Commission and the Financial Supervisory Service said the measures take effect from July 16. Monthly new stock-loan issuance will be capped at 30 percent of the prior month’s new linked loans excluding stock loans, with an exception tied to keeping balances below end-June levels.