Upbit's main banker targets 2022 IPO amid massive crypto user on-boarding

Upbit's main banker targets 2022 IPO amid massive crypto user on-boarding

K bank, the major fiat on-ramp for South Korean crypto exchange Upbit, has set its sights on going public in 2022. Some South Korean banks appear to be enjoying the benefits of increased crypto involvement with K bank reportedly eyeing an initial public offering in 2022.According to a report by The Korea Times on Wednesday, K bank CEO Lee Mun-whan revealed that the bank would be profitable by 2022, paving the way for the public listing.K bank — South Korea’s first internet-only bank — is the major Korean won on-ramp for Upbit; one of the “big four” crypto exchanges in the country.The....


Related News

Upbit launches in Thailand just days after regulators suspended Bitkub

As Thailand’s leading crypto exchange remains suspended, billionaire backed rival Upbit enters the scene. Crypto exchange Upbit is entering the Thai market at a fortuitous time when the kingdom’s most popular exchange, Bitkub, remains suspended by government regulators.According to reports in local media, a joint-venture crypto exchange between Upbit APAC and a group of Thai billionaires launched operations on Wednesday, Jan. 20. It follows the regulatory suspension of the country’s most popular trading platform Bitkub on Monday, which had a reported 97% share of the market before its....

South Korean crypto traders are pivoting to ‘smaller cap’ altcoins

Bitcoin trading activity in South Korea has reportedly dipped amid rising interest in smaller altcoins. South Korea’s “big four” crypto exchanges — Bithumb, Korbit, Upbit and Coinone — are showing a marked cooling off in Bitcoin (BTC) enthusiasm.Meanwhile, altcoins are now accounting for the highest 24-hour trading volume according to data from multiple market aggregators.Apart from XRP, which is often popular among crypto traders in Asia, altcoins with smaller market capitalizations are leading the way in terms of trading volume on the big four.Data from crypto research outfit Messari....

Survey shows South Koreans support crypto tax law

More than half of the survey respondents favored the controversial crypto tax law in South Korea. An opinion poll conducted by South Korean television station YTN has shown significant support for the planned cryptocurrency tax regime in the country.According to a report by The Korea Herald, 53.7% of the 500 participants polled by South Korea survey firm Realmeter expressed support for the crypto tax law coming into effect in January 2022.However, respondents in their 20s — the most active crypto trading age demographic in South Korea — were most likely to oppose the cryptocurrency tax....

IBM Blockchain Helps FinTech Startup KYCK! Address KYC Challenge

IBM Bluemix Garage has unveiled that Singapore FinTech startup KYCK! is to use its blockchain in a project to fast-track the know-your-customer (KYC) on-boarding process in financial organizations, according to a report from Yahoo!. It is hoped that by using the blockchain technology banks will be in a better position to enhance operations for on-boarding customers, reducing the time and expense that is normally required. By utilizing the Hyperledger Project Fabric, IBM Bluemix Garage in Singapore will work to create and test the solution, which is to be built on the Hyperledger Fabric.....

Upbit investor stock price surges three-fold amid bullish crypto trading in S...

A minority investor in a major South Korean crypto exchange is currently the best performing stock in the country. The effects of South Korea’s crypto frenzy seem to be spreading beyond the cryptocurrency market to affect stock prices in the country’s stock exchange.According to a report by Bloomberg on Wednesday, Hanwha Investment & Securities Co. has seen its stock price almost triple since the start of the year.Indeed, at the time of writing, Hanwha Investment is trading at 6,550 Korean won per share, which constitutes a 197% stock price gain year-to-date.This almost-200% share price....