Eun Sung-soo, the Financial Services Commission (FSC) chairman, promised support to accelerate the innovation of digital finance and fintech companies, especially through it D-testbed, a regulatory sandbox exclusively for fintech start-ups.
The number of Paycoin users has broken 1 million as cryptocurrencies boom.
The price of paycoin, a cryptocurrency used on the payments and remittance app Paycoin run by Danal Fintech, rose by 2,700 percent on Wednesday after the announcement that the app will integrate bitcoin.
Major tech firms have started to competitively loan money to small business owners who used to be in a conventional finance blind spot.
Major financial groups vowed to strengthen their digital services in the new year as big tech companies like Naver and Kakao have emerged as competitors in the financial business and contactless services are crucial during the coronavirus pandemic.
Kakao Pay said Monday that it has applied to the Financial Services Commission for a license to become an insurer.
BC Card opened a second financial big data platform lab in Busan in support of the government’s Digital New Deal initiative, the company announced Thursday.
Kakao Pay is set to mine your personal data and incentivize you with conditioning to live better with its newly introduced securities account.
Internet-only banks are promising fat paychecks and a shorter-than-ever hiring process to bring in as many IT developers to get ahead in the digital transformation of finance.
More than two million accounts have been opened with Kakao Pay Securities since the new brokerage was established in February, the mobile securities firm said Monday.