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South Korea plans to open virtual asset accounts to about 3,500 companies, and the central bank plans to test AI proxy deposit tokens by the end of 2026

Comparing news, Factblock CEO and Korea Blockchain Week organizer Andrew Park said that the Korean crypto market is shifting from being driven by retail transactions to institutional digital finance. The focus of global financial institutions and enterprises has moved from tokens, exchanges, and prices to escrow, tokenization, stablecoins, payment and settlement infrastructure, and regulatory compliance. The Korea Financial Services Commission has proposed a framework to open corporate virtual asset accounts to approximately 3,500 listed companies and registered professional investors. The National Assembly of Korea has officially passed amendments to the Electronic Securities Act and the Capital Markets Act to incorporate tokenized real-world assets and security tokens into a unified legal framework. The Bank of Korea has completed initial testing of the Project Hangang real-world deposit token project and plans to conduct the second phase of institutional testing in late 2026. Related technical experiments have used wholesale deposit tokens to allow AI agents to execute automated conditional transactions. This article is sponsored by GENG, Build Your Fortune on GENG (https://geng.one)

12h agoburnking

ZEC has increased 20 times in a year, and the strongest privacy coin favors the intensive catalytic market

Comparative news, according to HTX market data, ZEC rose above 833 US dollars for a short time this morning to set a new historical record. The increase reached 67% in the past 7 days, 230% in the past 180 days, and 1970% in the past year. Recent major benefits include: · Grayscale submitted the fourth S-3 amendment, promoted the conversion of Zcash Trust into a spot ETF (pseudo ticker ZCSH), and disclosed that DCG subsidiaries were in non-binding discussions to inject about 200,000 ZEC (worth about $110 million at the time). · Cypherpunk Technologies, supported by Winklevoss, launched the world's largest ZEC mining cluster, controlling about 18% of the entire network's computing power and continuing to increase the ZEC treasury. · The Ironwood Network Upgrade (NU6.3) has been launched to fix previous Orchard privacy pool vulnerabilities, strengthen the security and verifiability of the shielded pool, and promote capital migration and restoration of ecological confidence. Combined with rising privacy narratives and market bearish pressure, ZEC has become one of the strongest performing privacy coins in this round. Currently, the price is still in a high fluctuation range.

21h ago

Shinhan Asset Management cooperates with Solana Foundation and others to promote the issuance of tokenized funds denominated in Korean won

Comparatively, South Korea's Shinhan Asset Management Co., Ltd. signed a four-party memorandum of understanding with the Solana Foundation, Etherfuse, and Orca to jointly promote proof of concept for the issuance of tokenized funds denominated in Korean won. The fund structure is based on BlackRock's BUIDL fund. Overseas institutional investors purchase a won ultra-short-term bond fund managed by Shinhan Asset Management, and their holdings will be issued in tokenized form. The proof of concept will cover KYC/AML frameworks, security audits, blockchain operations, compliance, and on-chain liquidity design. Lee Seok-won, CEO of Shinhan Asset Management, said that the goal is to have corresponding capabilities as soon as the system is implemented and lead the Korean won digital financial products market. The National Assembly of South Korea passed an amendment to the STO legal framework in January of this year, which will take effect in February 2027.

1d ago

South Korea's Proposed Law Gives FIU Direct Enforcement Powers: Cracking Down on Undeclared Crypto Exchanges

Comparatively, according to Digital Asset, 10 people including South Korea's National Power Party member Yim Tae-young proposed an amendment to the “Specific Financial Information Law” on August 20 to give the Financial Intelligence Service (FIU) direct enforcement powers against undeclared virtual asset service providers. According to the amendments, anyone can report an offense to the FIU. When the FIU receives a report or discovers suspected violations, the FIU can conduct an investigation and analysis, and refer or report the case to the investigating authorities. The proposal points out that although the current law imposes reporting and anti-money laundering obligations on virtual asset service providers, there are no direct enforcement measures against undeclared operators, and there are hidden criminal risks such as money laundering and illegal cross-border transfers, which are difficult to respond quickly with inter-agency coordination alone.

1d ago

South Korea tightens overseas crypto transfer channels: will increase verification of identity and use of funds

Comparatively, South Korea is further tightening the process of transferring crypto assets to overseas platforms after overseas CEX apps such as Bybit and OKX were removed from the local Google Play market. According to the latest amendments to the Enforcement Order of the Specific Financial Information Act, Korean trading platforms will need to decide whether to release transfers according to the risk level of overseas platforms in the future; when transferring money to some overseas trading platforms or personal wallets, users may be required to prove that they own the account and explain the purpose of the transaction and the source of funds. If the information is insufficient, the transfer can be delayed or refused. A single transaction involving 10 million won or more will also be included in the suspicious transaction monitoring system established by the exchange itself, and the relevant regulations will be implemented six months after publication. (News 1)

9d ago

Take a deep dive into stablecoin cards: replacing Visa, or just a form of self-indulgence?

Author: Vaidik Mandloi Compiled and edited by: BitPushNews Crypto card spending surpassed $759 million in July, covering 9 million purchases — almost two and a half times that of the same period last year. However, more than 90% of the transaction volume still runs on the Visa network. And each of these cards will tell you the same story: we put payments on the stablecoin track, cut off the card network fees, and return the savings to the merchant. This is the same idea we discussed earlier when discussing how Stripe can build its own stablecoin cross-border payment chain. So if we actually try to get rid of the card network, what exactly will happen? Can avoiding Visa or Mastercard really save merchants money? Which layer do stablecoins replace in the payment stack? After thorough research, the answers were completely unexpected to me. To answer these questions about how the payment stack works, we must first figure out where the money actually goes when someone swipes a credit card. The first thing I realized was that most people, including those in the cryptocurrency industry, thought card networks like Visa had taken the biggest chunk. Wrong! When a merchant accepts a $100 purchase made with your rewards credit card, they pay the so-called Merchant Discount Rate (Merchant Discount Rate), which is approximately 2.2%, or $2.20. But the interesting thing is: this $2.20 didn't go into Visa's pocket; instead, it was distributed to three different participants, and the distribution ratio was very uneven. The largest chunk, about $1.75, went to the issuing bank (Credit Bank), which is the bank that issues credit cards to consumers. This fee is known as an interchange fee (Interchange), and it accounts for 70-80% of the entire merchant's processing fee. Next, the merchant's payment processor, also known as the acquirer (Acquirer), took about $0.30 to $0.70 as its markup. Finally, there is Visa or Mastercard, a real card network that everyone in the cryptocurrency industry wants to disrupt. It only takes an assessment fee (Assessment Fee) of about 0.13 to 0.18 dollars. This is only about 7-9% of the total cost paid by the merchant. So if you remove Visa from this equation, you're just removing the smallest item in the entire stack, and there's a reason why Visa's fees are so low. You see, Visa doesn't lend money to anyone, so it doesn't have to deal with all credit risk, chargebacks, or fraud disputes. In fact, Visa doesn't even transfer money. It's just a messaging network (Messaging Network) that only activates when you swipe in a store. Visa's job is to send authorization information from the merchant terminal to the card issuer and then back, and it establishes operating conditions that everyone in the system must abide by. However, it is the card issuer that actually takes on most of the heavy lifting. It is the card issuer that provides credit to the consumer and assumes the risk that the consumer may never repay. The card issuer is also responsible for floating funds (Float) between the purchase of the product and the date of payment of the bill, and uses exchange fees to fund reward programs that entice consumers to use the card. That's why Visa's business model is so fascinating. In 2025, Visa processed $14.2 trillion in payments, covering 257.5 billion transactions, generating net revenue of $40 billion and a net profit margin of nearly 50%. It earns an average of around 0.13 cents per transaction, which is its entire business model. Visa is one of the most valuable companies on the planet not because it charges a high fee per card, but because it processes a quarter of a trillion transactions a year, with almost zero marginal costs and zero credit risk. Now let's talk about the part where the situation is starting to make stablecoin cards really uncomfortable. The harsh reality of the stablecoin card economy Every stablecoin card is a debit card product. The money was already in the user's wallet in the form of USDC or USDT before the purchase occurred. Also, there is no floating deposit (Float) and no revolving balance (Revolving Balance) to generate interest income on the side. This puts these cards in a completely different economic category. Also, in 2010, the US Congress passed the “Durbin Amendment” (Durbin Amendment) to transfer debit card exchange fees to banks with assets over $10 billion...

11d agoWendy#VISA #pays #stablecoins

South Korea strengthens crypto asset supervision: expanding the scope of majority shareholder review and abolishing the million threshold for travel rules

Comparatively, the South Korean State Council passed an amendment to the Enforcement Order of the Specific Financial Information Act to expand the crypto asset travel rule from currently only applying to transfers over 1 million won to all transfers to prevent split transactions from evading supervision. The new regulations also tighten access to VASP, expand the scope of majority shareholder review, and add financial requirements such as a debt ratio not exceeding 200%; transfers to overseas CEXs and personal wallets will be managed differently according to risk levels, and high-risk transactions can be prohibited. Travel Rules and other related regulations will be implemented six months after publication.

11d ago

South Korea Proposes That Courts Can Require Exchanges to Disclose and Freeze Debtors' Crypto Assets within Seven Days

Comparatively, according to CryptoSlate, the South Korean Supreme Court's proposed amendments to the Civil Enforcement Rules will establish standardized procedures to allow creditors to freeze, identify, and liquidate virtual assets held by debtors. The court may require the exchange to disclose the type and amount of crypto assets held by the debtor and freeze the corresponding assets within seven days of receiving the order. The deadline for comments on the proposal is expected to take effect on October 1. Once assets have been identified and frozen, the court may appoint distribution to creditors or order liquidation, and virtual asset service providers to perform the sale.

11d ago

Apple didn't make up with a loss of 7 billion dollars. Why did Musk kill X Money?

Source: Fintech Blueprint Author: Michiel Milanovic Compiled and edited by: bitPushNews Elon Musk finally launched the product he had been aiming to build since 1999. X has begun gradually rolling out X Money to US Premium and Premium+ subscribers, bundling cash accounts with 6% annualized returns, Visa debit cards with 3% cashback, and free instant transfers between X accounts. These motivational numbers are quite aggressive, and the timing of the launch is also quite delicate for this social media app. X now belongs to SpaceX. The stock price has dropped by about 30% since the IPO, and the current valuation is 1.51 trillion US dollars. This article will thoroughly analyze X Money's core, analyze its opportunities, selected financial technology stacks, and strategies to turn 550 million users into bank customers. X (formerly Twitter) remains one of the world's largest social media companies. The app reports that it has 550 million monthly active users and posts around 350 million daily posts. However, its core business now belongs to Musk's sister company Xai, which acquired X in March 2025. SpaceX also acquired xAI in February 2026, merging this platform into a company with a total value of 1.5 trillion US dollars today. According to SpaceX's S-1 files, X was not described as a media asset. Instead, it is positioned as Grok's “basic distribution and data engine,” providing a real-time daily stream of posts, which the company believes will improve the timeliness and context-awareness of the model. The logic is as follows: X provides data for Grok, Grok makes X more useful, and more useful X makes users willing to pay for it. X Money is the latest attempt to shape X into a “one-size-fits-all app” — the document clearly states that this will cover payments, banking, and business services. The move comes at a time when ad revenue is declining steadily and subscription revenue is gradually rising. In the first quarter of 2026, X's annualized advertising revenue was US$1.37 billion, down 40% from 2023. Meanwhile, subscription revenue (a major component under AI solutions and infrastructure) continued to grow over the same period. In 2025, subscription revenue increased by $365 million. This shows that the company is replacing its advertising business with a subscription-led model; X Money is one part of it. The service is only open to Premium and Premium+ subscribers. These two categories total 4.4 million users, accounting for only 0.8% of the 550 million total users. Its strategy is to provide attractive X Money benefits to attract more users to subscribe to Premium and Premium+ services. X Money itself is not a bank, but rather partners with Cross River, which holds deposits and provides FDIC insurance. This is the same cooperative banking model behind Chime, Cash App, and Klarna, and it also brings the same trade-off: sharing the financial benefits in exchange for a lighter regulatory burden. This makes the 6% annualized return a particularly expensive benefit. Dollars stored in Cross River are almost impossible to earn far more than a risk-free interest rate of about 3.5% until anyone shares the profits. Even if X takes the full spread, it still has a gap of about 235 basis points in the promised returns to savers. Assuming Cross River retains its usual share, the gap will widen to around 400 basis points. The same is how cashback works. Cross River's assets are less than $10 billion and are therefore not subject to the Durbin Amendment fee cap, which allows it to earn unregulated exchange fees of around 1.1-1.2% of the transaction amount. That's less than half of X's 3% cashback. As such, subscription fees are likely a source of funding. The 6% annualized revenue is only available to Premium+ subscribers, who pay $40 per month, or $480 per year, which can cover approximately 4% of the revenue gap on the $12,000 deposit. But if you count cashback, users will soon run out of that budget. Our guess is that Musk is happy to accept losses from this business. Even if X Money absorbed $1 billion in deposits, the loss of several hundred basis points was only a fraction of the total loss of 2.5 billion US dollars in the AI sector in the first quarter of 2026. If X eventually gets its own banking license, earn...

16d agoWendy#X Money #license plate #apples #banks #Musk

XRP Ledger's new version, xrpld 3.3.0, will include five new features

Comparing news, Ripplex product leader Jazzi Cooper wrote on the X platform that the next version of XRP Ledger, xrpld 3.3.0, will be released next week. At that time, five new features will be introduced to validators: confidential MPT, batch transactions, authorization, fee payment and reserves, and dynamic MPT. Among them, the two amendments, batch transactions and delegation of authority, were previously urgently withdrawn due to serious flaws discovered by security researchers. She said that XRP Ledger already has the ability to support tokenized assets on a large scale, and this upgrade will further promote the application of these assets in global transfer, trading, collateral and settlement scenarios.

21d ago