Internet-only bank Kakao Bank launches in Korea

Internet-only bank Kakao Bank launches in Korea

Kakao Bank,… Korea’s second internet-only bank,… burst onto the scene this week. Experts say Kakao Bank’s successful rollout and strong brand recognition is sending ripples through Korea’s financial landscape. Cha Sang-mi reports. Kakao Corporation launched its new online-only banking service, Kakao Bank, on Thursday,… less than four months after K-Bank, the first internet-only bank in…

What is a Cross Currency?

What is a Cross Currency?

Welcome to the Investors Trading Academy talking glossary of financial terms and events. Our word of the day is “Cross Currency” A cross currency is a pair of currencies traded in forex that does not include the U.S. dollar. One foreign currency is traded for another without having to first exchange the currencies into American…

How Does China Manipulate Its Currency?

How Does China Manipulate Its Currency?

After years of economic growth, China’s renminbi currency, also called the “yuan”, has been added to the list of elite global currencies by the International Monetary Fund. Alongside the dollar, euro, pound, and Japanese yen, the renminbi is officially recognized by the IMF to be safe, reliable and freely usable. However, despite this designation, China…

Korean banks to close accounts linked to virtual currency trading

Korean banks to close accounts linked to virtual currency trading

Now to news that might worry local Bitcoin traders. The Korean government has taken its first steps… to regulate the local cryptocurrency market. Financial authorities are considering new regulations,… that could ban most virtual currency transactions… save for a select few… operating under strict guidelines. Yu Joonhee reports. For the first time,… the Korean government…