Korea’s Crypto Crackdown Talk Draws Backlash From Users and Politicians
South Korea's citizens reacted angrily to a proposed ban on cryptocurrency exchanges, with politicians and residents alike condemning the move.
One of the oldest and largest banks in South Korea has partnered with two fintech firms to build a new security system using blockchain tech.
Shinhan Card has been granted a patent for a blockchain payment system that could reportedly do away with physical credit cards.
The Seoul-based bank built the blockchain-based platform in preparation for a role as intermediary should a digital won be launched.
The bank plans to make it even harder to create anonymous crypto exchange accounts in South Korea.
Shinhan, one of the oldest and largest banks in South Korea, is using blockchain technology to speed up the approval process for loan products.