Kookmin Bank and Circle Sign Memorandum of Understanding
Signing such a memorandum of understanding is a big deal for Circle. Kookmin Bank is a member of the South Korean KP Financial Group, and serves over half of Korea’s population Circle is one of the Bitcoin companies on an aggressive international expansion right now. After obtaining their License in the UK not too long ago, the company now partnered with a Korean bank. Kookmin Bank is looking to partner up with British Fintech firms, particularly those focusing on blockchain technology development. The Fintech revolution is bringing banks and startups closer together than ever before.....
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South Korea's KB Kookmin Bank is developing a blockchain solution for international remittances with the aim of ushering in “safer and faster” foreign exchange services. For the initiative, the commercial bank said it is partnering with local bitcoin startup Coinplug to utilise patents the firm holds in the field. In statements, KB Kookmin Bank explained that banks currently send overseas remittances via the SWIFT network, which sends payments via an intermediary before they arrive at the beneficiary institution. However, utilising blockchain technology avoids the intermediary, and could....
Kookmin Bank, one of South Korea’s largest commercial banks and one of the four largest financial institutions in the country by asset value, has secured a partnership with Bitcoin wallet service and merchant payment solutions provider Coinplug to develop a blockchain-based foreign exchange business model. The bank will collaborate closely with Coinplug, which registered several blockchain technology patents under its name, to use the blockchain network to prevent counterfeit of electronic documents and reduce cost in securing data. Over the past few months, an increasing number of the....
Korean electronic goods producer Samsung Electronics recently signed a memorandum of understanding (MOU) with six companies that will collaborate to build the Galaxy NFT ecosystem. Galaxy NFT Ecosystem South Korean electronics maker, Samsung Electronics, recently signed a memorandum of understanding (MOU) with six companies to build the so-called “Galaxy NFT [non-fungible token] ecosystem,” a report has said. The signing paves the way for Samsung Electronics to start work on connecting the virtual and real world using NFTs. According to a report on the Korean language news....
The Central Bank of Russia and a number of large financial institutions sign a memorandum to begin collaborative work on researching and testing of Blockchain technology. Creation of a special consortium for researching and testing Blockchain technology has long been a topic of discussions between players of country’s financial market. Concrete actions finally take place when the Central Bank of Russia and a number of large financial institutions sign a memorandum at the XXV International Financial Congress in St. Petersburg which marks a beginning of collaborative work. Russian banks....
For many months now, Bitcoiners have been wondering exactly what services Circle would offer to the fledging Digital Currency community. Since 2013, Circle has been notoriously tight-lipped on the specifics of its operation. Some in the community even went as far as to compare Circle to vaporware. Today, all the speculation is laid to rest. Early 5/16/14, CircleCEO Jeremy Allaire took to Circle's blog to reveal “What We Have Been Up to at Circle.” Circle launches its product today to increase the utility value of Bitcoin by reducing friction. Circle is the first worldwide Bitcoin Bank....