South Korean, Mongolian Banks Prepare Crypto, Digital Fiat Offerings – Crypto Trendings
Friday, March 24, 2023
Crypto Trendings
  • HOME
  • News
  • Bitcoin
  • Altcoins
  • Business
  • Tech
  • Industry
  • Interviews
  • Press Release
No Result
View All Result
Crypto Trendings

South Korean, Mongolian Banks Prepare Crypto, Digital Fiat Offerings

Crypto Trendings by Crypto Trendings
December 16, 2020
in News
Reading Time: 2min read
South Korean, Mongolian Banks Prepare Crypto, Digital Fiat Offerings

Asian banks are edging yet closer to crypto and digital currency adoption – with South Korean and Mongolian banks unveiling ambitious new developments in the wake of reports of the launch of Singaporean giant DBS’ forthcoming digital asset exchange.

Although DBS has responded to reports by saying that its exchange is still a “work in process,” the bank has confirmed it is working on the project – and a page for the new platform seemingly went live yesterday, although it appears to have been taken down later.

Related posts

Interest-Bearing Bonds-Backed Tokens: Generate yield using tokens backed by sovereign bonds

Interest-Bearing Bonds-Backed Tokens: Generate yield using tokens backed by sovereign bonds

January 16, 2023
UniMe

How UniMe Applies Secure End-to-End Encryption on Its Privacy Chat Apps

October 18, 2021

But elsewhere on the continent, bank-operated crypto projects may materialize before DBS puts the finishing touches on its own trading platform.

Per DDaily, South Korean crypto finance company Delio and Hexland, a South Korean blockchain firm founded by a group of former Samsung developers, have agreed a deal to work with the Ulaanbaatar-based Trade & Development Bank of Mongolia (TDB Bank). The deal will also involve Mongolian mineral resource and blockchain company MDKI, whose partners include crypto mining giant Bitfury.

TDB Bank is one of Mongolia’s oldest and largest banks, with 50 branches nationwide. It works predominantly with industrial clients.

The companies will initially provide a range of crypto-related services in Mongolia, including crypto custody, remittance, deposits, loans and cryptoasset management.

A Delio official told the same media outlet that the move would allow it to enter the “global cryptoasset financial market” in earnest.

Meanwhile, also in South Korea, major commercial bank Shinhan Bank has agreed a deal with LG’s IT services and blockchain arm LG CNS. The firms said they will co-build a digital currency platform, per BusinessPost.

The firms said they will launch a pilot for what they call a “blockchain-powered digital currency platform” that will be built “in preparation for the issuance of a digital currency by the [central] Bank of Korea.”

The media outlet quoted a Shinhan Bank spokesperson as stating,

“This agreement will be the start of a collaboration with LG CNS in the blockchain sector. We will provide value for our customers by applying blockchain technology in a range of financial services.”

Previous Post

Cubans Turn to Bitcoin Remittances with 25% Commission to Beat Blockade

Next Post

bitFlyer to Pioneer Blockchain-powered Home Rentals Platform

Next Post
bitFlyer to Pioneer Blockchain-powered Home Rentals Platform

bitFlyer to Pioneer Blockchain-powered Home Rentals Platform

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

RECOMMENDED NEWS

Play, Engage, Earn, And More In The QQS Metaverse

Play, Engage, Earn, And More In The QQS Metaverse

9 months ago
Swiss Rare Token: A Cryptocurrency Platform for Healthcare

Swiss Rare Token: A Cryptocurrency Platform for Healthcare

6 months ago
The Fastest Blockchain Ever – Mojaik

The Fastest Blockchain Ever – Mojaik

5 months ago
crystal Elephant

CEFA: The Defi Solution that Brings Best Earning Opportunity through a Single Token

2 years ago

BROWSE BY CATEGORIES

  • Altcoins
  • Bitcoin
  • Business
  • Industry
  • News
  • Press Release
  • Tech

BROWSE BY TOPICS

Altcoins Bitcoin Business Industry News Press Release Tech

POPULAR NEWS

  • Flush Win is Revolutionizing Online Casinos and Betting with Blockchain Innovations

    Flush Win is Revolutionizing Online Casinos and Betting with Blockchain Innovations

    0 shares
    Share 0 Tweet 0
  • A ONCE IN A LIFETIME OPPORTUNITY TO OWN A PIECE OF HISTORY AND PUT YOUR NAME INTO THE METAVERSE

    0 shares
    Share 0 Tweet 0
  • FLUSH WIN ANNOUNCES NFT GAME PROJECT AND CITY CASINO

    0 shares
    Share 0 Tweet 0
  • The Mercedes Benz G-Wagon, Jungkook’s beloved car from BTS, is up for auction

    0 shares
    Share 0 Tweet 0
  • While all crypto is bearish, YES WORLD Token Price jumped by 10% in 24 hours

    0 shares
    Share 0 Tweet 0
Crypto Trendings

We bring you the latest news in the crypto and finance industry. We envision the goal of completely decentralised future.

Reach us at:

[email protected]

BITCOIN NEWS

Expert Reveals “Best Bets” Against Impending Economic Collapse

Expert Reveals “Best Bets” Against Impending Economic Collapse

July 28, 2022
Meta A Bigger Threat For Crypto Crash Than The Fed, Here’s Why

Meta A Bigger Threat For Crypto Crash Than The Fed, Here’s Why

July 27, 2022
Why UST’s crash has experts talking and taking different sides

Why UST’s crash has experts talking and taking different sides

May 16, 2022

ALTCOIN NEWS

Ethereum price faces resistance at $650, can ETH break above?

Ethereum price faces resistance at $650, can ETH break above?

December 21, 2020
New withdrawal mechanism for ETH2 stakes ‘under discussion’

New withdrawal mechanism for ETH2 stakes ‘under discussion’

December 15, 2020
Ethereum King Buterin Loses Live Showdown to Twitch Chess Queen

Ethereum King Buterin Loses Live Showdown to Twitch Chess Queen

December 16, 2020
March 2023
M T W T F S S
 12345
6789101112
13141516171819
20212223242526
2728293031  
« Feb    
  • About
  • Advertise
  • Careers
  • Contact

© 2020 Crypto Trendings

No Result
View All Result
  • Home
  • Industry
  • News
  • Business
  • Bitcoin
  • Interviews
  • Tech
  • Altcoins

© 2020 Crypto Trendings