Interactive Brokers Hong Kong secures retail crypto trading license

South Korea is moving closer to the global stablecoin trend as public curiosity and real-world trials accelerate, even as the country’s central bank signals it wants tight guardrails. A recent analysis from Shinhan Card, reported by Money Today, finds that internet searches for “stablecoin” in South Korea jumped 403% in the first half of this year compared with the previous six months, based on data from major portals such as Google and Naver. Mentions on social media rose 359% over the same period. The spike reflects growing expectations that U.S. dollar-pegged tokens could make cross-border payments faster and cheaper by enabling near-instant settlement at prevailing foreign-exchange rates. Interest has been reinforced by user reviews of actual payment experiences, which climbed between May and July. Crypto-linked cards, including RedotPay and Bybit’s offerings, are already usable domestically and allow top-ups with leading stablecoins such as USDT and USDC. One user described buying a cup of coffee at a local shop with a RedotPay card via Apple Pay. The small purchase underscores how crypto rails are edging into routine spending.Photo by Oat Appleseed on UnsplashFrom curiosity to checkoutTrading venues remain the main arena. According to CryptoQuant, transactions in USDT and USDC on the country’s five leading exchanges totaled nearly $71 billion from January through August, underscoring stablecoins’ central role in crypto liquidity and price discovery. Stablecoin interest in Korea shows a skew toward younger users and men, with men making up 74% of related searches and women 26%. By age, people in their 20s–40s accounted for 66% of searches, while those aged 50 and above represented 34%. Public debate is widening alongside adoption, with some online commenters predicting that stablecoins could chip away at the influence of traditional card networks. At the same time, banks, card companies, and exchanges are bracing for the arrival of a won-pegged counterpart, as the government and parliament prepare a regulatory framework and aim to introduce a bill as early as this month. Domestic card issuers, drawing on their merchant networks and settlement systems, are already exploring how to integrate won-backed tokens in ways that maximize convenience and scalability. Adoption meets skepticismSkeptics counter that Korea’s existing payments infrastructure is already world-class, leaving only marginal gains for a won stablecoin. They also argue that cross-border benefits would be modest because the won lacks reserve-currency status and broad global demand. The Bank of Korea (BOK) has struck a notably conservative tone. Governor Rhee Chang-yong has previously questioned the benefits of a won-denominated stablecoin and warned of risks to the monetary system. Earlier this month, in documents submitted to a lawmaker and reported by The Herald Business, the BOK advised that parliament consider granting it authority to require issuers to deposit reserves at the central bank when necessary. According to the bank, such a measure would strengthen user protection during heavy redemptions, curb money-supply growth outside its control, and ensure that any seigniorage benefits flow to the public. That approach could reduce issuer profits, since deposits at the BOK would not earn interest, just as is the case for commercial banks. The documents also recommend sizing reserves to match the total stablecoin supply, while clarifying that not all of it would necessarily need to be held at the central bank. Issuance path and next stepsAs for who should issue a won-pegged token, the BOK favors starting with a consortium of banks, citing their track record on compliance and the need for a controlled pilot that lets regulators assess and mitigate risks before widening access. The developments suggest a country exploring how stablecoins might integrate into an already sophisticated payments network. Consumers are showing interest, exchanges are handling large flows, and regulators are shaping the legal framework that will define the place of any future won-based digital currency. 

South Korean cryptocurrency exchange Flybit, which is operated by the Korean Fintech Industry Association, has passed the post-audit for its Information Security and Privacy Management System certification (ISMS-P), according to local news website News1 on Wednesday (KST).Photo by FlyD on UnsplashRigorous certification standardsThe ISMS-P is a security management system jointly operated by South Korea’s Ministry of Science and ICT and the Personal Information Protection Commission, representing the highest level of security management in the country. It combines 80 requirements for Information Security Management System (ISMS) certification and 22 requirements for Personal Information Management System (PIMS) certification, totaling 102 requirements that must be met. Once obtained, certification is valid for three years, and annual post-audits are required to maintain its validity. Flybit’s commitment to security"Cryptocurrency exchanges are businesses that manage customers' valuable assets. All Flybit members approach their work by recognizing the fact that the protection of personal information is our most important value,” the exchange said. "We will continually strive to maintain security accidents since the establishment of the exchange." Flybit first obtained the ISMS certification in December 2020 and the ISMS-P certification two years later in December 2022. The most recent ISMS-P follow-up audit was conducted last month. After a thorough examination, the results of the audit were delivered by the Korea Internet and Security Agency (KISA) on Dec. 12, which stated that the exchange could maintain its certification. In October last year, the firm also received the highest rating in the comprehensive anti-money laundering (AML) evaluation conducted annually by the Financial Intelligence Unit (FIU) under the Financial Services Commission.

OK Group Retires ‘Okcoin’ BrandIn a move to streamline its crypto ventures, cryptocurrency exchange operator OK Group is rebranding its platforms under the single name “OKX.”The announcement was made by Hong Fang, President of OK Group’s Seychelles-registered exchange OKX, via a thread on X (formerly Twitter) on Monday.Photo by Kelly Sikkema on Unsplash‘Okcoin’ to ‘OKX’ global rebrandFounded in 2013, Okcoin will be undergoing a name change to “OKX,” aligning with OK Group’s overarching branding strategy. Hong Fang expressed her personal connection to Okcoin, stating:“I’ve been part of Okcoin for five years. Over the years, we have put a lot of love and passion into our brand and product.”She emphasized that this rebranding effort, beginning in Singapore, will extend to Europe and the United States in the coming months, ensuring consistency across key operational jurisdictions. Despite the name change, OKX maintains that customers can expect the same high-quality services within the same regulatory framework under the new brand. Providing the rationale for the change, Hong Fang went on to state:”We also believe it’s time for a change. Rebranding to OKX in our key operational jurisdictions will be great for our customers and business. I’m very excited about what to come next.”Previous rebranding activityFang also revealed that OK Group has already sunsetted the “Okcoin” brand and product in several regions, including Latin America, the Middle East and North Africa, South Asia, Hong Kong, and others. This transition aims to create a unified and recognizable identity for the group’s crypto ventures.The United States holds particular significance for OK Group’s global strategy, and the company remains committed to that market. Fang acknowledged the unique challenges encountered in the US but expressed the company’s dedication to empowering individuals and protecting freedom through technology within the US market. She stated: “It is home base for a lot of us on our team. It is special to us.”OKEx rebrandThis rebranding news comes approximately one year after OK Group initiated a similar transition with its subsidiary, formerly known as OKEx. In December 2022, OKEx transformed into “OKX,” expanding its scope beyond being a centralized crypto exchange. The move aimed to embrace DeFi, non-fungible tokens (NFTs), and Web3. OKEx, founded by OK Group CEO Star Xu in 2017, had played a significant part in terms of innovation in the cryptocurrency space during that time.OK Group’s decision to rebrand its crypto ventures under the unified name “OKX” signifies a strategic shift toward creating a more cohesive and streamlined brand presence in the global crypto market. The transition stands out as yet another iteration in the development of global crypto platforms within an ever-changing crypto ecosystem. As Hong Fang put it, “Okcoin was started almost 10 years ago.” . . . “We have been unequivocally investing in our Okcoin team and infrastructure ever since.”