Hana Bank Trials with BoK; Binance Invests in Circle for USDC Promotion
What happened
Hana Bank is currently participating in a settlement network trial with the Bank of Korea. Separately, Binance announced it had invested $100 million in Circle as part of an expanded five-year agreement. Under this agreement, Circle will pay Binance a monthly incentive fee based on the volume of USDC held through Circle’s infrastructure.
From cointelegraph.com
Why it matters
The investment formalizes a strategic partnership between Binance and Circle to promote the USDC stablecoin. The trial involving Hana Bank and the Bank of Korea relates to the modernization of financial infrastructure in the region.
From cointelegraph.com
Who's involved
- Hana BankParticipating in a settlement network trial with the Bank of Korea.
- Bank of KoreaCentral bank of the Republic of Korea; partner in the settlement network trial.
- CirclePeer-to-peer payments technology company that received the investment.
- BinanceCryptocurrency exchange that secured the investment and partnership.
Who could feel it
Possible knock-on effectsThese are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.
- CircleSpeculative
Circle could expand its capital base and market reach through the partnership with Binance.
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The entities involved
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Hana Bank
Nothing else this week.
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Bank of Korea
central bank of Republic of Korea, established in 1950
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Circle
peer-to-peer payments technology company
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Binance
cryptocurrency exchange