Korea Steadily Becoming a Cryptocurrency and Fintech Hub
South Korea has become a hotbed for cryptocurrency and blockchain technology startups. Just recently the Korea Exchange launched its Korea Startup Market (KSM) based on blockchain technology, provided by Korean blockchain startup Blocko. Furthermore, the Korean Financial Services Commission (FSC) plans on regulating virtual currencies like bitcoin in....
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Indonesia and South Korea are thinking about joining forces in an attempt to boost the FinTech industry to help the burgeoning sector in both countries, reports The Jakarta Post. Last month South Korea announced that it is going to introduce bitcoin regulations in 2017 as digital currencies continue to grow in the country. According to the report, bitcoin adoption has increased significantly in South Korea, amounting to 1.5 trillion won in transactions. It was recently reported that the South Korean government was pushing ahead with the system expansion of digital currency to promote the....
The Inside Fintech Conference and Expo is coming to Seoul, South Korea December 8-9, bringing an agenda filled with blockchain technology, cryptocurrencies, and financial technology. Inside Fintech Seoul, South Korea December 8-9. Rising Media, Inc. and 3DR Holdings have announced the Inside Fintech conference at the Korea International Exhibition Center....
The Monetary Authority of Singapore (MAS), Singapore’s central bank, has collaborated with yet another Asian country, within days of partnering with an Indian state government over exploring and developing blockchain technology and Fintech. The primary monetary authority in Singapore and the Korean Financial Services Commission (KFSC) – an authority of the same stature in South Korea – will cooperate over Fintech, exploring joint innovation projects with a focus on big data and mobile payments. “This agreement lays the groundwork for deeper FinTech collaboration between Singapore and South....
South Korea announced today that it plans to promote the FinTech sector in the country through the expansion of digital currency such as bitcoin, reports The Korea Herald. Not one to fall behind in the digital currency adoption race, the South Korean government is pushing ahead with the system expansion of the digital currency, in a bid to keep up with other countries. It will also offer three trillion won ($2.65 billion) in financial support over the next three years as it develops the FinTech sector in South Korea. Yim Jong-yong, chairman of the Financial Services Commission, said in a....
We live in an era where not adopting consumer needs in the financial sector may lead to significant losses for the industry. The Korean government has unveiled its plans to support the development and growth of startups in the country. To be more precise, they will support venture capital for Fintech and blockchain startups in Korea going forward. Korea Embraces Financial Innovation. Up until this point, the Korean government and regulators had remained fairly tight-lipped regarding the future of Fintech in their country. Given the growing interest in this industry, it is not a complete....