• Sat, 25 May 2019, 03:35 PM
  • All times are UTC
  • Edition:
    International
Link copied

South Korea’s FSC announces first batch of regulatory sandbox, focus on blockchain, e-payments

Image: Flickr

Mon, 22 Apr 2019, 04:32 am UTC

South Korea’s Financial Services Commission (FSC) has announced the first cohort of financial service providers accepted into its recently launched financial regulatory sandbox.

On April 1, the FSC launched the sandbox as the Special Act on Financial Innovation Support came into effect.

In its official announcement dated April 17, the regulator said that it had shortlisted 19 applications for priority review. Of these, nine firms have been allowed to test their innovative services and products in the regulatory sandbox.

Selected firms include KB Kookmin Bank, Shinhan Card, NH Property and Casualty Insurance, Rainist and others.

They will test products and services in areas such as e-payment services, p2p financial services, combining financial services with mobile communication services, blockchain technology, credit card payment service using QR codes, and others.

The blockchain project is focused on a stock lending platform to offer stock lending and borrowing services for individual investors using blockchain technology.

“For the remaining 10 applications, the FSC will soon decide whether to accept them into the regulatory sandbox at its meeting scheduled for May 2, 2019,” the FSC said.

<Copyright © TokenPost. All Rights Reserved. >

The commenting service is available only after having logged in.
More
  • Bitcoin (BTC) $8,055.18 (-0.12%)
  • Ethereum (ETH) $251.90 (-0.44%)
  • XRP (XRP) $0.387600 (-0.59%)
  • Bitcoin Cash (BCH) $408.09 (-2.20%)
  • Litecoin (LTC) $101.69 (+1.88%)
  • Bitcoin (BTC) $8,055.18 (-0.12%)
May 24, 2019 (Friday)
12:18
Crypto Technicals: ETH/USD retraces above 1H 200-SMA, 'Hammer' on daily charts signals further gains
10:50
German engineering giant Bosch trials Ethereum blockchain
10:39
Crypto Technicals: BTG/USD grinds higher along 21-EMA, breakout at 61.8% Fib (25.74) will accentuate gains
09:33
Bank of Russia to review proposal on gold-backed cryptocurrency
09:17
Blockchain software firm Unstoppable Domains raises $4M from Draper Associates, Boost VC
08:45
Crypto Technicals: LTC/USD bounces off 21-EMA support, next bull target $109
08:45
Robinhood Crypto is now in New York
07:27
Facebook to launch its cryptocurrency 'GlobalCoin' in Q1 2020: Report
07:25
California resident sued for alleged $26M crypto Ponzi scheme
06:33
AT&T teams up with BitPay to become the first telecom to accept cryptocurrency payments
06:16
Rep. Swalwell accepting bitcoin donations in bid for US presidency
06:10
Grayscale receives FINRA approval to open Ethereum Trust to individual investors
05:12
Indian telco Airtel selects IBM for blockchain-based pan India anti-spam call solution: Report
05:07
Binance CEO CZ seeks compensation for reputational damage from Sequoia
04:06
Overstock.com’s blockchain subsidiary signs MOU with Lusaka city to develop land governance platform
03:57
Toyota, University of Tokyo, TRENDE to start testing blockchain-based electricity trading solution
03:14
Russia's NSD to roll out security token blockchain in June
May 23, 2019 (Thursday)
12:15
Crypto Technicals: IOT/USD holds 21-EMA support, retrace till 0.3185 (200-DMA) likely on break below
12:11
Coinstar extends bitcoin buying service to 21 US states
11:38
Crypto Technicals: BTC/USD bounces off session lows with 'Hammer' formation, bias neutral
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.
PUBLISHsoft