Global cryptocurrency exchange Binance announced on Jan. 16 that it has invested in Korean startup BXB to enter the Korean cryptocurrency market.BXB is a startup that issues stablecoins. A stablecoin is a new class of cryptocurrency backed by a reserve asset to offer price stability."We are currentl
Upbit, a South Korean cryptocurrency exchange that suffered a theft of 58 billion won (about US$50 million) in Ethereum at the end of November 2019, has resumed its Ethereum deposit and withdrawal services.Upbit resumed its deposit and withdrawal services on Ethereum on Jan. 13, following the normal
The 4th Industrial Revolution Commission under the Presidential Office suggested that the Korean government allow financial institutions to launch cryptocurrency-related products, such as Bitcoin derivatives, as a medium- and long-term strategy for the institutionalization of cryptocurrencies.As dig
While the Korean government has not set up a taxational standard on cryptocurrency exchanges, the Korea Tax Service imposed a tax of 80 billion won on cryptocurrency exchange Bithumb.Vidente, the largest shareholder of Bithumb Holdings Co., said in a public disclosure on Dec. 29 that it confirmed on
CoinExpress Exchange has implemented cryptocurrency custody services following Korea's top cryptocurrency exchanges Upbit and Bithumb. Amid fierce competition among cryptocurrency exchanges, CoinExpress Exchange, based in Japan and incorporated in Hong Kong, has launched a service that helps use
Yeo Min-soo, co-chairman of Kakao, stressed that he will actively support the popularization of blockchain-based services through “Klip,” a cryptocurrency wallet that will be released in the first half of next year. Kakao is planning to make Klay, a cryptocurrency to be stored in Klip, available for
Blockchain-based karaoke dApp SOMESING announced on Nov. 28 its listing on Dcoin Exchange, a global cryptocurrency exchange platform with which it has signed an MOU on strategic cooperation for global expansion. SOMESING will be listed on Dcoin on Dec. 5.Dcoin Exchange, established in Switzerland, r
G-Star 2019 took place at the Busan Exhibition and Convention Center from Nov. 14 to 17. There, blockchain game companies unveiled various blockchain games and held networking events for a better combination between blockchain technology and the existing game industry.“Blockchain technology will rea
LINE Corp., a Tokyo-based subsidiary of the South Korean internet search Naver Corp., and Yahoo Japan are expected to combine with each other to give rise to the world’s largest blockchain company. Each of the Japanese subsidiary of Naver and the sub-subsidiary of Softbank is currently running a cry
Bithumb Global will issue Bithumb Coin (BT) that can be used for Bithumb Family services launched by Bithumb's partners including Bithumb Korea. Bithumb Coin is paid to people as a reward when they use Bithumb Family services. With Bithumb Coin, people will be able to pay fees for Bithumb Family
Techfin Asia 2019, which will take place in Seoul on Dec. 5-6, is aimed at discovering how far the disruptive technologies can go in today’s developed financial sector.On the agenda of Techfin Asia 2019 will be artificial intelligence (AI), big data, blockchain, cloud computing, open banking, e-comm
China is about to issue a digital version of the yuan based on blockchain and cryptocurrency technologies. Its five-year plan for fintech firm growth, which resulted in global fintech giants such as Alibaba and Tencent, comes to an end next year and the issuance is likely to become another quantum j
Samsung Electronics is stepping up efforts to expand its blockchain business. The company has unveiled a software development kit (SDKs) which allows developers of blockchain-based decentralized applications (DApps) to create a blockchain platform for Galaxy devices.The Korean tech giant released it
Korea’s cryptocurrency industry is making all-out efforts to build an anti-money laundering (AML) system to comply with the recommendations of the Financial Action Task Force (FATA) that go into effect in June 2020.The inter-governmental watchdog asks cryptocurrency exchanges and virtual asset servi
SK Telecom and its subsidiary IDQ, which joined forces a year ago, have received orders for quantum cryptography-based communication networks one after another in Europe and the United States.SK Telecom announced on Oct. 20 that IDQ will participate as the number one supplier of quantum key distribu
Cryptocurrency data disclosure service provider CrossAngle will start a disclosure service for blockchain projects.CrossAngle, which operates Xangle, a public data disclosure platform for the global cryptocurrency market, said on Oct. 6, “It was difficult to protect investors in the existing cryptoc
The price of bitcoin, the number one cryptocurrency by market cap, has crashed.Bitcoin was traded for 10.37 million won (US$8,645.61) as of 6:20 a.m. on Sept. 25, down a whopping 10.87 percent from a day ago, according to Seoul-based cryptocurrency exchange Bithumb. The figure dropped as much as 1.2
An increasing number of blockchain app marketplaces, which gather blockchain-based decentralized applications (dapps) to help users download them at one sitting and provide usage data, are attracting funding from major investment companies.Considering the fact that mobile apps enjoyed a boom followi
An increasing number of smartphone manufacturers are combining their phones with blockchain services. Under the circumstances, blockchain services are expected to emerge as main services of mobile devices.Early this year, Samsung Electronics equipped its flagship Galaxy S10 with the KeyStore as a pe
South Korean electronics giant Samsung Electronics Co. and chat giant Kakao Corp. have joined hands to expand the blockchain ecosystem. The two companies will release the so-called “KlaytnPhone” integrating Samsung Electronics’ Galaxy Note 10 and Kakao’s blockchain platform Klaytn.Kakao announced on