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South Korea n banks have been exploring alter native s for Stablecoins and CBDC s. Certificate of Deposits or CDs have managed to garner the interest of top banks of the region. Citing unnamed “industry sources,” Maeli Business News Korea pointed out, “ Hana Bank plans to conduct research on CD tokens as part of its internal decision to engage in the proof of concept (PoC) process for the CBDC project by the Bank of Korea. “ Recently, the nation’s central bank tied up with Samsung to research CBDC for offline payments. The two sides signed a Memorandum of Understanding in Q2 2023. In fact, Samsung also participated in the two-part mock testing of CBDC conducted by the Bank of Korea last year. Also Read: Bank of Korea Partners with Samsung to Research CBDC for Offline Payments Are CDs more reliable than stablecoins? The local media report underlined that Hana Bank is likely interested in exploring the central bank’s blockchain moneta...

The virtual asset manager and lending platform suspended withdrawals following challenges at Haru Invest, a similar entity. Delio, a virtual asset manager and lending platform based in South Korea, has announced the temporary suspension of customer withdrawals “in order to safely protect the assets of customers currently in custody.” The company made the decision in response to the recent suspension of digital asset deposits and withdrawals at Haru Invest, which has led to heightened market volatility and increased confusion among investors within the region. According to Delio, the suspension will remain in effect until “the situation and its aftermath are resolved.” A translation of the announcement read: “In order to safely protect the assets of customers currently in custody, Delio will inevitably suspend withdrawals temporarily as of June 14, 2023, 18:30." Delio has reassured its clients that it will do its best to protect their assets “while quickly grasping the facts ...