Bank of Korea: FinTech Companies Will Reshape Financial Industry
Non-financial technology companies with a growing expertise in FinTech (financial technology) will play a bigger role in shaping South Korea’s financial industry, according to the country’s central bank. In a recent report by the Bank of Korea, the central bank sees non-financial, technology-oriented companies to make a big splash in the country’s financial industry. “Nonfinancial institutions that have the technology will play a bigger role in business such as consumer banking, money transfers and transactions, investments and asset management that are currently mainly run by financial....
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The Bank of Korea is moving ahead with plans to tie its own digital tokens to the wider crypto world. It wants to link a central‐bank deposit token to public blockchain networks. This push could reshape how money moves in South Korea and beyond. Related Reading: Double Trouble: Crypto User Loses $2.5M By Copying Same […]
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 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....
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....