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South Korea investigates Upbit over alleged KYC violations

News | Cryptocurrencies | 18 Nov 2024

South Korea has ramped up its regulatory scrutiny of cryptocurrency exchanges such as Upbit, focusing on compliance with Know Your Customer (KYC) requirements.

cryptocurrency exchange, regulation, KYC, money laundering

Binance to acquire South Korea's Gopax

News | Cryptocurrencies | 03 Jan 2023

Binance has entered the final phase of acquiring Korea-based crypto exchange Gopax. The company is completing due diligence (DD) on the acquisition and finalizing the process.

acquisition, partnership, cryptocurrency exchange, crypto, digital assets

South Korean National Tax Service agency investigates Bithumb

News | Cryptocurrencies | 11 Jan 2023

The South Korean National Tax Service agency has opened an investigation into the activities of Bithumb and its affiliates over tax evasion concerns.

tax evasion , cryptocurrency exchange, compliance

South Korea to launch task force service

News | Online & Mobile Banking | 27 Feb 2023

Financial authorities of South Korea have announced the launch of a task force service aimed to enhance banks’ business practices and overall management.

product launch, online banking, digital banking, financial services, financial institutions

PPRO expands cross-border payments in South Korea

News | Online Payments | 16 Feb 2023

Digital payments infrastructure provider, PPRO, has recently announced it extended its infrastructure to the South Korean market, integrating onto its platform local cards and Toss Pay, a popular e-wallet.

cross-border payments, cross-border ecommerce, expansion, digitalisation, cashless, cash, e-wallet, digital wallet, online payments, payments infrastructure, online shopping, online platform, merchant, local payment method

Samsung Pay partners with Naver Pay for mobile payments in South Korea

News | Mobile Payments | 21 Feb 2023

Samsung Pay has joined forces with South Korea-based mobile payments provider Naver Pay to strengthen each other’s businesses across South Korea.

Samsung Pay, mobile payments, merchants, partnership, payment methods

Alchemy Pay partners with DWF Labs to Secure USD 10 mln funding

News | Online Payments | 03 Apr 2023

Singapore-based crypto gateway Alchemy Pay has partnered with web3 investment company DWF Labs to facilitate its expansion and secure a USD 10 million funding.

funding, partnership, expansion, payment methods, NFT

FSS to review Apple Pay launch in South Korea

News | Mobile Payments | 25 Nov 2022

The financial regulator of South Korea, Financial Supervisory Service (FSS) has announced it is reviewing the Apple Pay service launch clause submitted by Hyundai Card.

product launch, digital wallet, digital payments, mobile payments, NFC, online payments, e-wallet

UPI to enable UnionPay QR payments for ZeroPay merchants

News | Mobile Payments | 02 Dec 2022

China-based UnionPay International (UPI) has partnered with the Korea Easy Payment Foundation and BC Card to enable UnionPay QR code payments for ZeroPay merchants.

partnership, payments , mobile payments, e-wallet, QR code, QR payments, payment methods

SentBe partners Currencycloud to improve FX

News | Online Payments | 07 Dec 2022

UK-based fintech Currencycloud has partnered with South-Korea-based global remittance and payment provider SentBe to improve its financial exchange (FX) capabilities.

partnership, FX , payments , payments infrastructure, cross-border payments, cross-border logistics, remittances, financial services

Samsung partners with Bank of Korea

News | Online Payments | 15 May 2023

South Korea-based company Samsung has announced its partnership with the Bank of Korea to launch wire transfers to Galaxy smartphones and smartwatches. 

partnership, mobile payments, online payments, digital signature, payments , contactless payments

Bank of Korea to investigate digital currency service providers

News | Cryptocurrencies | 27 Apr 2023

The Bank of Korea has received investigative powers over digital currency service providers and has gained access to their transaction data.

regulation, compliance, digital assets, cryptocurrency, transactions , central bank

Apple Pay gets approved to go live in South Korea

News | Mobile Payments | 08 Mar 2023

South Korean regulators have approved the Apple Pay launch to allow local credit card firms to introduce the Apple Pay service.

Apple Pay, NFC, mobile payments, regulation, product launch

KakaoPay Securities adds KakaoTalk stock service

News | Payments General | 11 Jul 2023

South Korea-based investment platform KakaoPay Securities has integrated KakaoTalk to offer a new investment experience to users.

digital assets, trading platform, product launch, digitalisation, investment

GLN and Remitly enable instant remittances to Korean bank accounts

News | Mobile Payments | 28 Aug 2023

Payment network GLN International has partnered with Remitly to launch instant cross-border remittances from abroad to all domestic bank accounts in Korea.

cross-border payments, remittance, money transfer, digital wallet, bank account

South Korea's Hana Bank partners with BitGo on digital asset services

News | Cryptocurrencies | 05 Sep 2023

South Korea-based bank Hana has started to collaborate with BitGo to offer digital asset custody services from the latter half of 2024.

digital assets, blockchain, banking, regulation

Bithumb eyes South Korean IPO in the second half of 2025

News | Cryptocurrencies | 13 Nov 2023

South Korea-based cryptocurrency exchange Bithumb has revealed its plans to go public in the East Asian country.

cryptocurrency, cryptocurrency exchange, IPO, financial services

South Korea plans a CBDC pilot in 2024

News | Cryptocurrencies | 24 Nov 2023

South Korea has revealed its plans to launch a central bank digital currency (CBDC) pilot involving 100,000 citizens in the fourth quarter of 2024.

cryptocurrency, digital assets, CBDC, banks

Nium partners with Jeonbuk Bank

News | Payments General | 27 Nov 2023

Real-time global payments provider Nium has announced its partnership with Jeonbuk Bank in order to offer remittance services for customers in South Korea.

partnership, remittance, money remittance, payments , cross-border payments, cross-border ecommerce, online payments, mobile payments, digital payments, ecommerce, financial inclusion

FSC to change rules for supervisory regulation on credit information firms

News | Online & Mobile Banking | 12 Dec 2023

The Financial Services Commission has proposed a preliminary notice of rules change to establish reasonable standards for calculating data transfer fees in MyData.

product upgrade, banking, online banking, mobile banking, digital banking, financial services, financial institutions