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Solana is emerging as a preferred blockchain platform for stablecoin payments and tokenized financial assets, positioning itself as a high-speed, low-cost backbone for next-generation finance, according to Lee Sung-san, Korean chief of the Switzerland-based Solana Foundation. "Solana can be compared to an autobahn where money moves at full speed," Lee said in a recent interview with Herald Business, a sister vernacular of The Korea Herald. "It is optimized for stablecoin transfers, payments, rem
South Korea’s financial authorities have fined crypto exchange Korbit 2.73 billion won ($1.9 million) for violations of customer identification and trading restriction rules, regulatory officials said Wednesday. The sanctions followed an on-site inspection on Korbit conducted in October 2024 by the Korea Financial Intelligence Unit under the Financial Services Commission, part of a comprehensive review of anti-money laundering controls at domestic crypto exchanges. Korbit is one of South Korea’s
BC Card said Tuesday it has completed a pilot project that allows foreign users to make payments at Korean merchants using stablecoins, moving toward integrating digital assets into the nation’s card payment system. The pilot, launched in October, was conducted in partnership with blockchain fintech firm Waybridge, overseas digital wallet operator Aron Group and international remittance specialist GME Remittance. The project aimed to test the usability of foreign currency-based stablecoins withi
North Korea–linked hacking groups has stolen more cryptocurrency than anyone else in 2025, siphoning off more than $2 billion as their operations became fewer but more targeted and higher impact, according to new research. North Korean hackers stole about $2.02 billion worth of digital assets from January through early December, up 51 percent from a year earlier, global blockchain analytics firm Chainalysis said in a report released this week. The findings, part of Chainalysis’s annual overview
Hana Financial Group and Dunamu, operator of crypto exchange Upbit, agreed to jointly develop blockchain-enabled financial services as major Korean players accelerate their push into next-generation payment and settlement infrastructure. The companies said Thursday they signed a memorandum of understanding to collaborate on building new financial rails using blockchain. The partnership will cover the development of an overseas remittance system, the introduction of new technology across Hana’s f
The head of South Korea's banking regulator issued a stern warning to Upbit on Monday, signaling that the crypto exchange could face strong measures after a major security lapse enabled hackers to steal roughly 45 billion won ($30.6 million) worth of virtual assets. Financial Supervisory Service Gov. Lee Chan-jin said the scale and nature of the breach and Upbit’s inadequate response “cannot be treated lightly,” underscoring growing regulatory frustration with repeated cybersecurity failures acr
Lazarus Group, North Korea’s state-backed hacking unit, is being floated as a strong suspect behind the roughly 45 billion won ($30.7 million) cryptocurrency hacking incident at Upbit, South Korea’s top virtual asset exchange. Authorities said Friday they are currently conducting an on-site inspection of Upbit, and strongly suspect that Lazarus Group played a part in the heist. Upbit suffered a massive hacking attack Thursday, resulting in an estimated loss of 44.5 billion won in Solana-based as
South Korea’s top internet platform Naver and crypto heavyweight Dunamu have pledged to invest a combined 10 trillion won ($6.8 billion) over the next five years, laying out expansion plans and global ambitions ahead of their planned merger. The announcement came at a joint press briefing Thursday, a day after the boards of Naver Financial and Dunamu approved a share-swap deal that will place the crypto operator under Naver Financial’s full ownership. The event, held at Naver’s Pangyo headquarte
South Korea’s leading internet platform Naver and cryptocurrency exchange operator Dunamu are moving toward a landmark merger that would create a 20 trillion won ($13.6 billion) fintech powerhouse, combining payments, digital assets and artificial intelligence-driven financial services under one roof. Naver said Wednesday that its board, along with that of its fintech affiliate Naver Financial, approved a sweeping share-swap agreement under which Naver Financial will acquire full ownership of Du
South Korea has yet to fully open the door to corporate cryptocurrency trading, but local exchanges are already racing to win over institutional clients, a segment widely seen as the key to deepening liquidity and stabilizing the country’s volatile virtual asset market. Earlier this year, the Financial Services Commission took its first cautious step by allowing a limited set of entities, including law enforcement agencies, nonprofits and virtual asset service providers, to conduct crypto transa
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