Korean bank taps Ripple for payments, Pakistan opens crypto licensing: Asia Express
KOREA South Korea’s Jeonbuk Bank taps Ripple for cross-border payments South Korea’s Jeonbuk Bank has partnered with blockchain payments company Ripple to deploy its cross-border payment system for business customers. The service targets businesses including import-export companies, technology startups and online content creators.
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Key Facts
- Fact 1: South Korea sets up Joint Virtual Asset Crime Investigation Unit The Serious Crimes Investigation Agency will be formally established in October and include 2567 investigators looking into seven categories.
- Fact 2: JAPAN Japan’s SBI leads $68M Fasset round at $1B valuation Stablecoin neobanking platform Fasset has raised $68 million in a Series C funding round led by Japan’s SBI Group at a $1 billion valuation.
- Fact 3: Laser Digital gets Japan’s first crypto exchange approval in 4 years Nomura Group’s digital asset subsidiary, Laser Digital, received authorization to operate as a crypto asset exchange service provider under Japan’s Payment Services Act (PSA) A list issued by Japan’s Financial Services Agency (FSA) on Friday showed that Laser Digital received the country’s first crypto exchange license in four years.
- Fact 4: The last platform to receive FSA authorization was Binance Japan in October 2022.
KOREA South Korea’s Jeonbuk Bank taps Ripple for cross-border payments South Korea’s Jeonbuk Bank has partnered with blockchain payments company Ripple to deploy its cross-border payment system for business customers. The service targets businesses including import-export companies, technology startups and online content creators.
Ripple said its system would provide the bank with faster, less expensive remittance capabilities than conventional transfers routed through intermediary banks via the SWIFT messaging network, which can take several days. South Korean lawmakers seek expanded FIU powers over unregistered crypto firms A group of South Korean lawmakers has introduced a bill to amend an existing financial law and expand the Financial Intelligence Unit’s (FIU) authority to investigate unregistered crypto businesses. On Thursday, People Power Party lawmaker Eom Tae-young and nine other lawmakers filed the bill, which aims to add a new provision to the Act on Reporting and Using Specified Financial Transaction Information.
(Original synthesis pending human/AI review — generated by the stub provider by selecting real sentences from the source material, not by writing new analysis or commentary.)
Original source: Cointelegraph
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