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South Korean company BxB Inc. has announced the launch of KRWb, the world’s first 1:1 Korean won-backed stablecoin aimed at providing greater liquidity to cryptocurrency exchanges and global accessibility of value transfers into and out of South Korea. KRWb is a token issued against a safe deposit denominated in Korean...
Four of South Korea’s largest cryptocurrency exchanges, Bithumb, Coinone, Korbit, and Upbit, have announced a new initiative to increase anti-money laundering (AML) efforts and fight illegal activities on their respective platforms, the companies said in a joint statement on January 25. A hotline dedicated to AML issues will be established...
Blockchain Exchange Alliance (BXA), the Singapore-headquartered holding company of Bithumb, one of South Korea’s largest cryptocurrency exchanges, is looking to raise at least US$100 million in a Bnktothefuture equity crowdfunding. BXA holds 38.7% of the company that owns and operates the Bithumb exchange. The exchange claims 4.3 million active users...
Orbs, an Israeli startup developing a hybrid blockchain complementing and scaling base-layer protocols such as Ethereum, has raised a “seven-figure” US dollar investment from Kakao Investment, the venture arm of the leading South Korean Internet conglomerate Kakao. Orbs said on Thursday that the new capital will be used to...
South Korea is already a key player on the global cryptocurrency stage but a new report by blockchain intelligence startup Cindicator suggests that this is only the beginning. South Koreans are estimated to account for 30% of all cryptocurrency trading in the world and about 30% of locals are said...