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3 clusters · 14 sources · 22 days · First seen · Last updated

Kakao financial services and digital asset expansion

Overview

Kakao Pay Securities and KakaoBank have expanded their integrated financial services through new partnerships. Initially, Kakao Pay Securities launched a stock trading service within the KakaoBank application, allowing users to trade domestic and international stocks, ETFs, and ETNs directly. The service includes real-time charts, automated periodic purchases, and community forums.

Following this, Kakao Pay and KakaoBank signed a memorandum of understanding with Fireblocks to explore digital asset infrastructure in South Korea. This collaboration focuses on evaluating distribution frameworks for digital assets, specifically stablecoins, and conducting proof-of-concept tests to meet local regulatory and security requirements. This initiative follows a previous agreement between Kakao Group and Circle to explore blockchain-based payment infrastructure.

Expanding into asset tokenization, Kakaopay Securities has entered agreements with US-based firms Dinari and Ondo Finance to explore tokenizing Korean-listed stocks for international distribution. The partnership with Dinari involves a proof of concept using the ‘dShares’ model, which utilizes tokens backed one-to-one by underlying shares to preserve shareholder rights like dividends and voting. The agreement with Ondo Finance focuses on establishing a framework for sourcing and custodying Korean shares via a foreign investor omnibus account. These developments follow legislative moves in South Korea to recognize distributed ledgers as valid securities registries.

Entities

Shin Ho-cheol · Kakao Pay Securities · Ondo Finance · Kakao Pay · South Korea

Timeline

  1. [BUSINESS] 6 sources
    Kakaopay Securities partners with Dinari and Ondo to tokenize Korean stocks

    Kakaopay Securities is partnering with Dinari and Ondo Finance to explore tokenizing Korean stocks for global investors using blockchain technology.

  2. [BUSINESS] 6 sources
    Kakao Pay and Kakao Bank partner with Fireblocks for digital assets

    Kakao Pay and Kakao Bank are partnering with Fireblocks to develop digital asset and stablecoin infrastructure in South Korea, focusing on regulatory compliance and secure on-chain services.

  3. [BUSINESS] 4 sources
    Kakao Pay Securities launches stock trading service on KakaoBank app

    Kakao Pay Securities has integrated domestic and international stock trading, including ETFs and ETNs, directly into the KakaoBank app to provide a seamless investment experience.

Sources

biz.heraldcorp.com · coincu.com · cointelegraph.com · crypto.news · cryptobreaking.com · cryptobriefing.com · cryptopolitan.com · kgnews.co.kr · koreaherald.com · phocapblockchain.net · sateconomy.co.kr · tokenpost.kr · tronweekly.com · zdnet.co.kr

This summary has been updated 1 time: see revision history