South Korea OK Financial Group – One of the largest lenders and savings bank service providers in the country – has announced plans to create a cryptocurrency. The company will be one of a growing group of companies hoping to launch tokens, and this indicates that the first days of nationwide banning of ICOs could be counted.
The ban It came into force in 2017 and has forced those. Cocoa And Hyundai Group Companies to launch coins through their foreign partners. President Yun Sek-Yul, however, said he was ready to lift the ban.
OK, the Financial Group may choose to open the coin overseas if the law is not drafted in time. The company said the coin would be ready by the end of this year, according to Seoul Kyungja.
According to the media, the company will withdraw the coin through him OK Investment Partners (OKIP) is a subsidiary, and marks the “first” for the “secondary” financial industry. The company has invited blockchain companies to submit a partnership proposal, and will hear bids from companies that are willing to name OK Coin.
The company could join the ICO and crypto market with several other local financial industry players, some of whom are planning their own ventures. The media cited the example of the bank’s giant WooriWhen the ban was lifted, he hoped to release his own coin before setting out his plans.
However, the media added that competing savings banks and “other group companies in the secondary financial sector” have become “nervous” as they have entered the cryptocurrency sphere and are “exploring business options.”
Of Sangsangin Savings Bank At its recent general shareholders’ meeting, he added “blockchain-based cryptocurrency trading and brokerage trading” and NFT “product and brokerage” to the list of trading routes. And the Japanese financial giant SBI TeamIt operates in several South Korean branches (including the Savings Bank) and appears to have a strong interest in the sector. Pepper Savings BankAnother OK rival, also appointed a blockchain industry leader in its management team.
In addition, the media added, OK, the financial group “jumped into the NFT market.”
The OKIP project sees the company as “live NFTs”. Okay Financial Team will also form a professional volleyball team, which released various NFTs earlier this year. The first region is freely distributed.
OK, the financial team recently sat on the supervisor Fair Trade Commission‘s (FTC) Corporate Watch List. The list includes organizations that can be classified as conglomerates. As previously reported, Dunamu – of Apbit crypto exchange – This year, South Korea is the first cryptocurrency company to be divided according to FCC law.
Such a classification is something of a double-edged sword. The FTC and other financial regulators have more control over ordinary companies. But congressional hearings can be positive, boosting brand image and increasing trust levels.
Yes, Financial Group has a net worth of $ 4.1 billion in 2021. It has a total of 15 subsidiaries and is the country’s leading lender, the Korea Times reported in May.
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