Bybit Leans on Innovative Tech by Launching AI-Powered Trading Assistant

The Seoul AI Innovation Tour 2024 – scheduled from March 5 to 7 – came to an end yesterday, Korean media outlet ETNews reported. Under the theme of “Navigating the Future: Unveiling Seoul’s Prowess in AI Innovation,” the event highlighted Seoul’s potential as an AI technology hub and facilitated discussions on global cooperation to foster the Asian fintech and digital asset industry.  The event was jointly hosted by the Korea Fintech Industry Association (KFIA) and The Asian Banker, a Singapore-based consultancy in finance and banking services. Several major Asian banks and fintech industry insiders attended the event, including officials from Permata Bank in Malaysia and Bank SinoPac in Taiwan. Photo by Headway on UnsplashLee Keun-ju, President of the KFIA, stated in his opening speech that cutting-edge technologies such as AI will further accelerate innovation in financial services. He also emphasized how the Korean financial and fintech industry developed at a breakneck speed over the past decade, introducing the landscape of the Korean fintech industry to bank officials.  Sharing insights on fintech and digital asset industry In the initial session, KFIA officials delivered speeches on the current financial environment of Korea and the association’s contributions to the local fintech industry. The following discussions revolved around development strategies for the fintech industry and collaborative efforts between the association and government institutions. In the later part of the event, leading local fintech insiders discussed the outlook of the security token offering (STO) and digital asset industry, sharing strategies to broaden their businesses to overseas markets. 

Jingdong Coinlink Technology Hong Kong Limited, a branch of JD Technology Group, has declared its intention to launch a stablecoin tied 1:1 to the Hong Kong dollar (HKD). Despite its status as a sandbox participant under the Hong Kong Monetary Authority (HKMA), Jingdong Coinlink has clarified that this does not imply endorsement or licensure for stablecoin issuance. The company aims to offer this blockchain-based stablecoin as a solution for businesses seeking efficient, cost-effective and secure payment methods.Photo by Ben Cheung on PexelsThe proposed stablecoin promises redemption on a 1:1 basis, supported by reserves of “highly liquid, highly-trusted assets” held in licensed financial institutions. Furthermore, Jingdong Coinlink commits to ongoing cooperation with global regulatory bodies to ensure compliance with existing and future legal frameworks. Cryptocurrency developments in Hong KongThis announcement comes amidst a series of significant cryptocurrency-related activities in Hong Kong. On July 23, CSOP Asset Management launched Asia’s first Bitcoin futures inverse product, following their successful Bitcoin Futures ETF in December 2022. Additionally, the cryptocurrency exchange HKX recently retracted its application for a license from the HK Securities and Futures Commission (SFC), advising users to withdraw their crypto assets. This withdrawal adds to the growing list of 12 other platforms that have either pulled back their license applications or had them returned by regulatory authorities. 

RaonSecure showcases blockchain-based SaaS to student ID card associationRaonSecure, a South Korean tech security company, recently showcased their blockchain-based Software as a Service (SaaS) solution, OmniOne Digital ID, to executives from the International Student Identity Card (ISIC) Association during their visit to RaonSecure’s headquarters in Seoul, as per a report by news outlet Digital Today. The tech firm also proposed a mobile ID project catered to ISIC.Photo by Matese Fields on Unsplash2.5 million student ID cards per yearThe ISIC Association, a non-profit organization registered in Denmark, is renowned for issuing approximately 2.5 million student identity cards each year. These cards are recognized and accepted in 108 countries globally.Various discount programsISIC card holders have access to an extensive range of discount programs at ISIC’s partner merchants. These discounts span a wide variety of industries, offering savings in areas such as accommodation, cultural attractions and travel. This feature of the ISIC card makes it a beneficial resource for students worldwide who are looking to save money while accessing various services and experiences.In October, RaonSecure signed a business partnership with two organizations to develop digital ID-based ISIC on mobile platforms. One of them is KISES Corporation, the Korean branch of ISIC, and the other is smart card service provider Future & More.