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first_img KakaoPay Securities partners with Dinari and Ondo to explore stock tokenization in South Korea

Korean KakaoPay's securities and tokenization platform Dinari and Ondo Finance have reached separate collaborations to explore the on-chain integration of Korean listed stocks and distribution to overseas market investors. KakaoPay announced these two independent agreements on Tuesday, covering the acquisition of target Korean stocks, tokenization infrastructure, and potential distribution arrangements outside of Korea.The collaboration with Dinari will rely on its dShares model for a proof of concept, which aims to retain shareholder rights, including dividends and voting. Dinari currently offers 724 tokenized U.S. stocks and ETFs through dShares, and this collaboration explores extending that model to stocks of Korean listed companies. Dinari CEO Gabe Otte stated that the proof of concept has not yet selected specific Korean listed companies and has not set a commercialization timeline; the proposed model will use locally listed stocks in Korea as the underlying assets, rather than tokens that only track their prices.The initial focus of the agreement with Ondo is to establish a framework for the acquisition and custody of Korean listed stocks, preparing for subsequent tokenization. KakaoPay will operate a comprehensive account for foreign investors to hold and manage the underlying stocks, and both parties will also study the issuance and redemption mechanisms for tokens. This collaboration comes as Korea advances its token securities regulatory framework: the Korean National Assembly passed an amendment in January this year, recognizing distributed ledgers as legitimate securities registries; the Financial Services Commission included it in capital market reforms in June; and the framework is set to take effect in February 2027.

first_img Kakao Pay, KakaoBank, and Fireblocks collaborate to explore stablecoin business

Korean fintech company Kakao Pay and internet bank KakaoBank have signed a memorandum of understanding (MoU) with cryptocurrency infrastructure provider Fireblocks to jointly explore digital asset opportunities, including stablecoins. According to the agreement, both parties will conduct proof-of-concept testing for digital asset infrastructure that meets South Korean regulatory, security, and service requirements, aiming to build a secure on-chain infrastructure for the country's emerging digital asset market. The announcement did not disclose specific timelines for launch, investment, or implementation.Kakao Pay primarily focuses on mobile payments and financial services, while KakaoBank is one of the largest internet banks in South Korea, both belonging to the Kakao ecosystem. Fireblocks stated that it provides digital asset infrastructure for over 2,500 institutions, including more than 100 banks. This collaboration follows another partnership between Kakao Group and stablecoin issuer Circle, where the two signed an MoU in July this year to explore blockchain-based payment infrastructure and digital asset technology, and to study opportunities surrounding the Korean won stablecoin and related services.As South Korea gradually improves its digital asset regulatory framework, Kakao Pay and KakaoBank are among many Korean financial and tech companies exploring stablecoin opportunities. In May this year, KB Financial Group completed a pilot for a Korean won stablecoin covering issuance, offline merchant payments, and cross-border remittances; in July, fintech company Toss collaborated with Optimism and Sunnyside Labs to conduct a proof of concept for Korean won-based stablecoin payment infrastructure.

SlowMist: FomoPeek versions 1.1–1.2 contain malicious code, which may lead to the leakage of private keys and mnemonic phrases

SlowMist released a security warning stating that it has recently received multiple reports of FomoPeek users' assets being stolen. After a joint investigation with the OKX security team, it was found that some affected users had previously installed or used FomoPeek versions 1.1 to 1.2, which contained malicious code. SlowMist stated that there are modules in FomoPeek unrelated to normal business, one of which includes a kernel exploit framework targeting the iOS system, supporting eight different attack methods that can automatically select the exploitation method based on device model and iOS version. Affected systems include iOS 12 to 18.7 and iOS 26 to 26.1. If the exploitation is successful, the application may break through the iOS sandbox and access and decrypt Keychain data, leading to the leakage of private keys, mnemonic phrases, login credentials, and other sensitive files. In addition, FomoPeek also connects to hidden servers unrelated to its public services and can receive remote commands. SlowMist indicated that its analysis of captured plaintext traffic shows that the related attack functions are currently enabled and will run automatically on a regular basis. SlowMist recommends that users who have installed or used FomoPeek versions 1.1 to 1.2 immediately check for any anomalies in their assets, generate new private keys and mnemonic phrases on trusted devices that have never installed the application, and transfer assets to new accounts as soon as possible, while also upgrading to the latest iOS version and not continuing to use or reinstall FomoPeek.

first_img Nakamoto CEO stated that AI could become the next engine for Bitcoin adoption

David Bailey, CEO and Chairman of Nakamoto Holdings, stated during a discussion hosted by investment bank TD Cowen that artificial intelligence could become the next engine driving Bitcoin adoption. He believes that the barriers to Bitcoin adoption have always been the interface rather than the asset itself; wallets, addresses, private keys, and the overall onboarding process have deterred mainstream users over the past decade, while AI-driven tools can abstract away this complexity, making it easier for ordinary individuals and institutions to use Bitcoin.TD Cowen analyst Lance Vitanza described this viewpoint as speculative but worth noting, suggesting that it shifts the adoption discussion away from traditional topics such as monetary policy, regulation, and institutional capital inflows. Bailey also mentioned that institutional adoption of Bitcoin is just beginning, with the changes brought about by spot ETFs, corporate treasury programs, and sovereign-level interest in the past year exceeding the total of the previous decade, and the opportunities ahead remain far greater than what has already been captured.When asked whether Bitcoin is reshaping traditional finance, Bailey firmly believes the answer is yes, as institutions, governments, and publicly traded companies are participating on a large scale, but the underlying properties of Bitcoin have not changed as a result. Nakamoto positions itself as a comprehensive Bitcoin platform covering media, conferences, education, asset management, consulting, and reserve business, and TD Cowen has given Nakamoto Holdings (NASDAQ: NAKA) a buy rating.

ZachXBT: Revolut allegedly caused the leakage of information for some high-net-worth users due to mistakenly trusting a forged government request

On-chain detective ZachXBT posted on his personal channel that Revolut allegedly leaked some users' personal identifiable information (PII) due to failing to recognize a forged government agency information request.According to his disclosure, Revolut previously received a request for customer information retrieval that appeared to come from a real government agency and was sent through the agency's official email domain. Because the email had valid domain authentication information, Revolut believed the request was legitimate and responded accordingly.The potentially involved data includes users' names, birth dates, occupations, addresses, email addresses, and phone numbers, as well as copies of passports or driver's licenses, identity verification selfies, account statements, IBANs, withdrawal records, and complete transaction histories, including Bitcoin transaction records. Revolut stated in the notification sent to users that no biometric facial telemetry data was leaked.ZachXBT indicated that the scale of the incident may currently be limited, but it appears to primarily target high-net-worth users. Several Revolut users received notifications regarding the related security incident yesterday. Revolut officials had previously reminded users to verify suspicious information through in-app customer service to avoid providing personal or financial information.
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