South Korea promotes the integration of cryptocurrencies for 3,500 companies
2026-08-22 20:24:37
According to CoinMeta, South Korea has advanced a three-part digital finance plan that covers the encrypted accounts of approximately 3,500 companies, involving legal recognition of tokenized securities and deposit tokenization pilots with nine banks. FactBlock CEO, who is also the organizer of the Korea Blockchain Week, Andrew Park, stated that South Korea's crypto market is gradually moving away from its long-term reliance on retail transactions, and financial institutions are beginning to focus on custody, tokenization, stablecoins, settlement systems, and compliance. According to a roadmap released by the Financial Services Commission in February 2025, South Korea plans to allow around 2,500 listed companies and about 1,000 companies registered as professional investors to open real-name bank accounts associated with crypto exchanges. Since 2017, South Korean companies have been unable to trade virtual assets through local exchanges due to banks not providing the required real-name accounts. For the first time, the Financial Services Commission has opened limited access to accounts to non-profit organizations, universities, law enforcement agencies, and crypto exchanges.
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Source:Cryptonews
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