After coming with a decision to ban cryptocurrency trading, South Korea may be now reconsidering its decision. The country's government just came out with a statement saying that the ban will be enforced once enough consultation and opinions are coordinated and taken into consideration. According to the South Korea's news agency YonhapSoutht the South Korea's…
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While Bitcoin and other big cryptocurrencies are plunging this week, Ripple investors are taking off nice profits along the way. In the last couple of hours, Ripple rose in value by almost 30%, and is now trading at an all-time high of $1.39. This means that the cryptocurrency outdid Bitcoin Cash in market capacity and…
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After China announced its ban on domestic exchanges trading Bitcoin, South Korea is the next country that also came out with the news that it is going to ban Initial Coin Offering (ICOs). With the popularity of ICOs going through the roof, with some estimating that the total market value of the ICO market is…
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Global cross-border payments platform Currencycloud and South Korea’s Hyundai Card announced today an exclusive partnership to enable the launch of Korea’s first mobile remittance service provided by a credit company. The service, established by the UK-headquartered FinTech company and Hyundai Motor Group’s credit issuing arm in conjunction with Korea’s long-standing Shinhan Bank, allows users to…
Read moreThomson Reuters has seen a surge in financial services clients joining Thomson Reuters signature messaging platform, Eikon Messenger, in South Korea. Following the announcement that Yahoo will begin shutting down its legacy messaging client and API service between August 5, 2016 and Aug 31, 2016, financial services firms in South Korea are choosing Eikon Messenger as…
Read moreJeong Jae-chan, the chairman of South Korea’s Fair Trade Commission, told a parliamentary hearing that an investigation had begun, although he did not elaborate.
Read moreGlobal foreign exchange reserves may have fallen in the third quarter for the first time since the financial crisis as central banks stepped up interventions to prevent their currencies from falling too sharply. As the U.S. Federal Reserve gears up to raise interest rates next year, dollar-funded "carry trades", in which traders borrow in low…
Read moreSouth Korea's foreign exchange trading volume reduced in the second quarter of this year as the won-dollar exchange rate moved in a narrow range, central bank data showed Friday. Daily average turnover in the foreign exchange market was 44.77 billion US dollars for the three months ended June 30, down 0.7 percent from the prior…
Read moreIn a telling info-graphic from the Korea Herald, they point to the high interest rates that RMB deposits are paying thus creating a higher demand for holding accounts denominated in renminbi rather than low interest paying currencies such as the dollar. In South Korea, renminbi deposits amounted to $16.2 billion according to the central bank,…
Read moreThe move would save transaction fees and hedge against forex volatility.
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