South Korean banks are Crypto Biz before new regulations star-news.press/wp
author
Tim Alper
author
Tim Alper
Involve
South Korean banks rush to prepare coding and interlocators, with some of the country’s largest lenders to finally enter Fray Crypto.
South Korea newspaper Mile Kyungji I mentioned that banks are creating dedicated organizations and preparing to launch legislation that will allow them to issue and operate Stablecoins. Media wrote, the best business newspaper in the country ::
“With discussions on the coding of Stablecoins quickly, the banking sector is now taking proactive measures.”
He explained that the lenders have established dedicated internal organizations and are forming federations because they are looking forward to moving quickly to the sector.
South Korea banks: What is about to act quickly
Banks such as Shinhan and Woori have formed initial plans to launch coding operations until 2018-2019.
However, they were eventually forced to inform it when the government of former President Moon Jae decided to ban initial currency shows and effectively marginalize the encryption industry.
However, President Lee Jay Meonging enthusiastically talked about encryption since his election in June this year.
Legionships are preparing to respond through legislation. There is a set of reforms supporting the progress of the offices of the various National Assembly committees.
Banks, which feel a change in political wind, respond quickly.
Woouri launched a team specialized in digital assets responsible for “various companies related to digital assets, including Stablecoins” and digital portfolios.
This nine -member team is part of the new Woori Business Alliance platform.
Woouri Bank has also signed a business agreement with the start of Blockchain where he is looking to revive the encryption custody plans.
It also works on Stablecoin with many companies whose name has not been revealed, as Mail Kyungji wrote.
KB plans
Meanwhile, Bank Kokmin Bank (KB) launched a digital asset response council in June.
She wants to create a systematic response response that covers a wide range of KB companies subsidiaries.
This council has developed a set of quick response scenarios for possible future policy changes.
It also declines the possibilities of cooperation with “external partners”, including insurance companies, credit card exporters, securities and asset management companies.
The declared goals of the council include enhancing strategic coordination in the encryption sector between many of its subsidiaries.
Movement encryption plans
KEB Hana Bank has created an encryption working group that includes members of the concerned department from both its subsidiaries.
The group is believed to work on matters related to Won Stablecoins. It also examines the requirements of the infrastructure for future projects.
Like Woori, KEB Hana is also working on a joint encrypted nursery project and looks forward to the global market.
Shenhan Bank has created an encryption workplace that includes “about 20 employees.”
Banks have also applied for a full set of brands associated with encryption and encryption. KB offers, for example, request to get a total of 32 brands related to Won-PEGID Stablecoins and 49 brands related to foreign currency Stablecoins.
Other banks also accelerate the preparation for repairs. This includes APBIT KNK, who recently created a digital asset work band.
Regional banks are also active, as Busan Bank operates the Blockchain team, which is looking at all aspects of Blockchain technology.
South Korean banks believe that the newspaper added that “if Stablecoins are legalized, financial companies need to quickly launch related services to secure the initiative in the market.” A South Korea Banking Industry official told The News Outlet:
“Although the reforms have not been implemented yet, they will take time to take work. For this reason we believe that through preparation in advance, we can enter the market quickly after lawmakers submit new legislation.”
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2025-08-03 23:30:00
