South Korea Super-App Toss to Run Won Stablecoin Pilot on OP Stack

Kraken is rebuilding its app with AI in its core, joining Coinbase and Robinhood in making AI the connective tissue for their platforms.

The post South Korea Super-App Toss to Run Won Stablecoin Pilot on OP Stack appeared on BitcoinEthereumNews.com. Optimism says Toss is the fourth regulated financial institution in a year to pick the OP Stack, after Bitpanda, Kraken and Mitsui. Toss, the South Korean fintech app with roughly 30 million registered users, is testing a Korean won stablecoin on Optimism’s OP Stack, Optimism said on X Wednesday. The proof of concept also involves Sunnyside Labs, whose “Privacy Boost” tool is meant to shield transaction data on a public blockchain while preserving compliance access. Optimism, the company behind the OP Stack framework used to build layer-2 networks, called the tie-up the fourth time in a year a regulated financial institution has adopted the OP Stack in a new market, following Bitpanda’s Vision Chain in Europe, Kraken’s Ink in the US and Mitsui’s Zipangcoin in Japan. Kyle Jenke, chief business officer at OP Labs, said the pilot is “about demonstrating that the OP Stack can me

Kraken's AI trading tool could democratize sophisticated crypto strategies, potentially increasing market activity and competition among traders. The post Kraken plans to launch agentic trading with AI bots appeared first on Crypto Briefing.

Gyeonggi's stablecoin trial could enhance regional financial autonomy and privacy, influencing global stablecoin infrastructure strategies. The post South Korea’s Gyeonggi Province to test stablecoin for public payments in August appeared first on Crypto Briefing.

The equity exodus from South Korea and Taiwan highlights vulnerabilities in emerging markets, potentially shifting investor focus to alternative assets. The post South Korea, Taiwan lead $46B emerging market equity exodus in June appeared first on Crypto Briefing.

The post SK Hynix Marks Record-Setting U.S. Debut Today appeared on BitcoinEthereumNews.com. Topline South Korean chipmaker SK Hynix will begin trading on the Nasdaq on Friday, after completing the largest U.S. share sale ever by a foreign company, marking the third-largest debut on record following SpaceX’s record-setting listing last month. South Korea’s SK Hynix raised $26.5 billion in its listing, making it one of the largest trading debuts ever. AFP via Getty Images Key Facts SK Hynix disclosed in a filing Thursday it would issue 177.9 million American depository receipts (ADRs), or certificates representing ownership of shares in a foreign company, priced at $149 each under the ticker “SKHY.” One common share will be represented by 10 ADRs, priced at $1,490—and that’s slightly higher than the company’s Seoul-based listing, which ended Friday at about $1,450. SK Hynix raised $26.51 billion through its ADR offering, the company disclosed, making it the largest U.S. share sale ever

The post DOJ Says Inmate Moved $290K Through Crypto Mixers appeared on BitcoinEthereumNews.com. United States prosecutors have charged a man serving a federal prison sentence over the alleged removal and laundering of about $290,000 in crypto assets held in a Kraken account subject to a forfeiture order.  The Department of Justice said on Thursday that Rossen Iossifov, a Bulgarian national, conspired in January 2024 to withdraw and transfer crypto that a federal court had ordered forfeited following his 2021 conviction. Prosecutors allege that the assets were moved through illicit mixing services and crypto exchanges before the US could take possession.  The case shows how attempts to move crypto after a forfeiture order can trigger fresh criminal charges, even after the underlying conviction. The US Attorney’s Office for the Eastern District of Kentucky said the cryptocurrency was held in an account registered to Iossifov at Kraken and had been restrained during the investigation. The

Iossifov's actions highlight ongoing challenges in enforcing crypto regulations and recovering illicit funds, complicating legal and financial systems. The post US charges Rossen Iossifov with laundering $290K from Kraken account while already serving prison sentence appeared first on Crypto Briefing.