Tag Archives: south korea

A recent report fueled the rumors that the South Korean digital asset exchange Bithumb is indeed for sale by naming a potential buyer. It indicated that the Tokyo, Japan-headquartered gaming conglomerate Nexon is preparing to purchase a controlling stake in the trading platform. Numerous reports from the past several months suggested that the Asian exchange is in trouble as authorities had raided the company’s offices on several occasions.The situation worsened as the exchange closed some...

Three months after registering Hashed Venture Fund I, the blockchain-focused investment group Hashed has already raised $120 million. The organization plans to utilize the funds to invest in the blockchain space and other fintech companies focused on protocol economy.Hashed Has Raised $120M In Three MonthsBased in Seoul, North Korea, Hashed’s mission is to enhance the mass adoption of blockchain technology and also to provide research and advisory services to companies in the field.In a press...

Peer-to-peer (P2P) bitcoin trading platform Paxful has announced it is joining hands with popular South Korean cryptocurrency exchange Bithumb Global, arguably one of the largest and most influential exchanges throughout the country.Bithumb and Paxful Are Now Working TogetherThanks to this new partnership, Paxful will have access to more customers in Asia. Bithumb currently boasts roughly one million mobile app users and eight million registered exchange users. In addition, the company...

One of the world’s largest car manufacturers and a household name, BMW, has announced plans to launch a blockchain-based reward program in South Korea.The country will be the first to see the new platform before a potential global rollout.BMW Korea Goes BlockchainBMW is arguably one of the most popular car manufacturing brands. According to its latest investor presentation, published in October 2020, they’ve delivered almost 650,000 vehicles in Europe, down 19.7% because of the coronavirus...

Bithumb’s situation worsens as South Korean authorities have reportedly summoned company Chairman Lee Junh-hoon for alleged fraud regarding the sale of BXA tokens. This comes days after local police raided the exchange for the third time in less than a month.Three Police Raids For Bithumb In SeptemberSeptember turns out to be a rather unpleasant month for the popular South Korea-based cryptocurrency exchange. As CryptoPotato reported earlier this month, the Intelligent Crime Investigation...

The popular Bitcoin exchange Bithumb in South Korea has reportedly been raided by the authorities. This happened because of fraud allegations.Bithumb Accused of Fraud by South Korean PoliceAccording to a report by a local news outlet, the Intelligent Crime Investigation Unit of the Seoul Police authorities raided South Korea’s largest cryptocurrency exchange Bithumb. The authorities raided the company’s headquarters on Wednesday (September 2, 2020), under allegations of fraud.Bithumb earlier...

One of the significantly technologically developed cities in South Korea is aiming to expand its payments programs through digital gift certificates based on blockchain technology. One of the goals is to educate the elderly on contactless payments.Giving The Elderly A More Simplified Payment ProcessAccording to a recent news report, the new establishment of South Korean Seongnam city would be accessible through a mobile app. The main idea is reaching out to its elderly residents and getting...

The large South Korean bank KB Kookmin Bank plans to launch a cryptocurrency custodial service for its clients. The new feature will be available after a partnership with the blockchain venture fund Hashed, the digital asset trading platform Cumberland Korea, and the smart contract security audit firm – Haechi Labs.Crypto Custody For KB Kookmin Bank ClientsThe blockchain-based fund revealed the new partnership in a recent announcement, which will aim to enhance the “emerging market for...

The tentacles of the TRON ecosystem continue to extend their reach across the globe. The latest endeavor has seen TRON join forces with MeconCash, making TRX and JST exchangeable for Korean Won at cash points across the country.More than 13,000 ATMs will support the crypto-fiat swaps as TRON seeks to seal its status as versatile digital cash for the people.TRON Arrives at South Korean ATMsTRON and its native TRX currency have broad support across Asia, where Justin Sun can be found actively...

Blockchain utilization is continuously rising in various countries across the world, a recent report revealed. It outlined that US-based companies have been awarded the most substantial number of patents for blockchain endeavors, but the Chinese multinational giant Alibaba is the single entity to receive the most.Blockchain Patents Across The MapThe report from the China Patent Protection Association (CPPA) examined data from 2014 to the middle of 2020 regarding the number of blockchain...