ICON & SK Planet to Sign Cooperation Memorandum

Parties plan to transform the existing structure of digital marketing and develop a medium-term and long-term plan to improve the quality of customer service
20 September 2018   1276

Representatives of the ICON blockchain project signed a memorandum of understanding with the South Korean telecommunications giant SKPlanet. The goal of the cooperation was the opening of new market opportunities and the introduction of distributed ledger technology into the telecom industry.

It is noteworthy that about 50% of South Korea's population use SK Planet services. In many ways, the decision to cooperate with ICON was made in connection with the desire to transfer the business to work with cryptocurrencies.

Leading South Korean mobile services, such as OK Cashbag and Syrup (operated by SK Planet), use the blockchain technology.

As part of the cooperation, the parties plan to transform the existing structure of digital marketing, as well as develop a medium-term and long-term plan to improve the quality of customer service in online and offline zones.

Binance Singapore Unit to Apply For License

Under the new law, aimed at regulating crypto paymetns and trading, firms must register with the Monetary Authority to receive a license
17 February 2020   315

Binance, a Singapore-based cryptocurrency exchange unit, has applied for a license under the new Payment Services Act, which entered into force on January 28.

We have already applied. We submitted the application pretty fast. Binance’s Singapore entity has been in close touch with the local regulators, and they have always been open-minded.

 

Changpeng Zhao

Founder and CEO, Binance

Under the new law, crypto companies in Singapore must register with the Monetary Authority and receive one of three licenses: an exchange of money, a standard or large payment institution. The measure is aimed at regulating payments and crypto trading using requirements for participants in the traditional finance industry. Zhao did not specify which of the licenses Binance Singapore chose.

Binance has been offering crypto-fiat trading services in Singapore since April 2019 and works with eight coins, including Bitcoin, Ethereum and XRP. The trading platform is supported by Vertex Venture Holdings, a venture division of Singapore's Temasek Holdings.