Samsung-Backed Blockchain Startup Raises $7.5M from Shinhan Bank

South Korean blockchain startup Blockco has secured 9 billion Korean won ($7.5 million) in a recent Series B+ funding round participated by major local banks. Banks continue interest in blockchain Backed by South Korea’s tech giant Samsung, Blockco announced the investment in a blog post on Aug. 22. The funding round involved South Korea’s oldest…

Korea’s Oldest Bank Is Building a Blockchain-Based Security System

South Korea’s oldest bank, Shinhan Bank, partnered with two other companies to develop a blockchain-based security solution. Korea’s Shinhan bank to enhance security with blockchain According to a report published on Aug. 14 by local news outlet The Korea Times, Shinhan Bank signed a memorandum of understanding with financial technology startup Ground X and blockchain…

South Korea’s Shinhan Bank Developing a Blockchain Stock Lending System

South Korea’s oldest bank, Shinhan Bank, is developing a distributed ledger technology (DLT)-enabled stock lending platform, local media Econonews reports on Aug. 1. Blockchain-based stock lending Per the report, Shinhan Financial Investment signed an agreement with financial services company Directional to develop a blockchain-based stock lending service on May 28. Personal stock lending is part…

Major Korean Bank Clamps Down on Accounts Linked to Crypto Exchanges

One of South Korea’s biggest banks is planning to intensify regulations on accounts linked tocrypto exchanges, BEI News reported on July 1. The “special measures” Shinhan Bank are proposing would reportedly involve dedicating staff to analyzing account transactions. It is believed the bank is hoping to distance itself from claims that it is helping financial criminals, amid…