South Korea’s Top Banks Demand Piece of 16M User Crypto Pie
South Korea’s cryptocurrency market is booming, with more than 16 million citizens—over 30% of the population—now holding crypto exchange accounts.
This huge user base has led the country’s top traditional banks to push lawmakers for regulatory changes that they say currently block fair competition and limit innovation in the digital asset space, as per a report from local news outlet Money Today .
At a high-level meeting held this week, executives from the nation’s largest financial institutions—KB Kookmin, Shinhan, Hana, Woori, NH Nonghyup, Jeonbuk Bank, and internet-only Toss Bank—urged lawmakers from the ruling People Power Party to revisit the one-to-one partnership rule between banks and crypto exchanges.
Woori Bank’s President Jung Jin-wan argued that local exchanges should be allowed to partner with multiple banks, citing consumer limitations and institutional demand.
Under current law, each crypto exchange in South Korea must partner exclusively with one bank to offer fiat-to-crypto services, a regulation aimed at preventing money laundering and ensuring real-name verification.
While effective in enforcing accountability, critics argue that it has created an uneven playing field, allowing some banks to reap massive user growth while others are left out.
Related: Survey: Nearly 50% of Korean Investors Expect US Tariffs to Harm Crypto Market and Drive Price Drops
The prime example cited is K-Bank. The neobank that partnered with top exchange Upbit in 2020, saw its user base skyrocket from 2.19 million to 6.6 million in a single year. As of late 2024, that figure had nearly doubled to 12.7 million.
This outsized growth, enabled by regulatory exclusivity, has made the current framework a contentious issue among South Korea’s major banking players.
Data obtained by opposition lawmaker Cha Gyu-geun and reported by Yonhap reveals that South Korea’s crypto user base surpassed 16 million following US President Donald Trump’s election win last November.
That number represents nearly one-third of the country’s population, with holdings totaling more than 102.6 trillion won ($70.3 billion). Analysts are predicting the figure could hit 20 million by year-end, despite concerns of market saturation.
Related: Google Play Store Boots Unregistered Exchanges in South Korea
On the other hand, a recent report from the country’s Ethics Commission for Government Officials revealed that more than 20% of high-ranking public servants hold crypto assets, averaging 35.1 million won ($24,000) each.
The disclosures—totaling 14.4 billion won ($9.8 million) across 411 individuals—include holdings in mainstream tokens such as Bitcoin, Ethereum, XRP, Dogecoin, and LUNC.
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Shiba Inu (SHIB) Remains Stable, But A Key Catalyst Is Missing
The crypto market is swaying, the nerves are frayed, and tokens are raining down like dead leaves in a macroeconomic autumn. Yet, in this grim setting, Shiba Inu (SHIB) holds on, refusing the addition of a fatal zero, and resists where others have already collapsed. No lyrical flight for now, but there is tension in the air: what if the calm heralds a spectacular comeback?
As Bitcoin wavers between hiccup and paralysis, even for the coming months , SHIB stands firm. Despite a 3.08% drop in 24h, the token proudly maintains its position above $0.00001, narrowly avoiding the humiliation of an additional zero. The support at $0.00001028 has, once again, served as a floor against the downpour.
Short-term indicators give fodder to optimists. If the crypto SHIB breaks the resistance at $0.00001109 and the candle closes at a peak, the movement could take it toward $0.00001150. However, the bulls, after several timid charges, seem short on fuel.
The most likely scenario? A consolidation in the $0.00001050 – $0.00001150 zone.
In the medium term, the issue lies elsewhere: the weekly close must move significantly away from the pivot level of $0.00001078. Only under this condition will analysts dare to speak of a rebound toward $0.000012.
In the midst of the malaise, the SHIB community does not give up. Lucie, an engaged member of the team, blows on the embers with confidence:
SHIB holds firm. When the turnaround comes, it can happen very quickly. Look at its current valuation. Some are sleeping on it, but those who pay attention know what’s coming.
In other words: the ambient torpor is nothing but a temporary sleep. The informed, however, are ready. In a second breath, she readjusts the skeptics in her way:
The echo chambers full of FUD about SHIB are trying to sell you their other crap — meh! SHIB simply follows the market. But let’s be honest — no one really doubts its real value.
A clear message addressed to fear sellers: the fundamentals are there, even if the price is not following yet.
The fate of SHIB, as often, does not depend solely on its community or its technical levels. It relies on a broader mechanism: the awakening of the crypto market as a whole. Recent massive liquidations — $445 million in 24h — show that investors are sailing blind, caught in a sea of macroeconomic uncertainties.
No sustainable recovery for SHIB will materialize without a positive signal from bitcoin. In the meantime, SHIB remains suspended at its support, ready to jump if the planets align… or to bend if the market plunges further.
The memecoin Shiba Inu takes hits, steps back, but does not capitulate and promises a spectacular comeback . Its line at $0.00001 is more than just a number: it is a declaration of resistance. While bearish echoes rattle on the networks, the community holds its ground. The turnaround? It might come… but not without bitcoin showing the way.
Exaion expands Tezos support as an Etherlink validator
Exaion, a subsidiary of French electric utility giant EDF Group, is now a validator of Etherlink, the Tezos-powered layer 2 blockchain.
Exaion, which offers high-performance computing and cloud solutions for blockchains, has joined Etherlink, an Ethereum ( ETH ) Virtual Machine compatible L2 powered by Tezos ( XTZ ) smart rollups, as validator.
The move follows a key milestone that saw Exaion join Tezos as a corporate baker in October 2020.
As an EVM -compatible layer 2 platform, Etherlink enables non-custodial and seamless integration with Ethereum tools, leveraging Tezos’ rollup technology for scalability and accountability. Integration across the Ethereum ecosystem includes wallets and indexers.
The layer 2 chain, which launched in late 2024, also connects to other EVM-compatible chains.
“By joining Etherlink as a Smart Rollup node operator, we can play a role in maintaining network security while providing a high-quality digital service to anyone using the chain,” said Fatih Balyeli, chief executive officer and co-founder of Exaion. “We’re proud to continue supporting Tezos, an example of French technological ingenuity that aligns with our own mission.”
Exaion’s move to become an Etherlink validator comes as the Tezos L2 blockchain solution gains traction just months after going live. Etherlink has attracted projects such as money market funds platform Spiko and Coinbase-backed real-world assets platform Midas.
Other platforms are also testing various use cases on the L2, including tokenized assets and contract deployments. Exaion’s launch of validator operations for the network adds to overall stability and decentralization as growth continues.
“Rollup security relies on the presence of at least one honest validator,” said Arthur Breitman, co-founder of Tezos. “So the more reputable parties validating the Etherlink rollup, the more robust it is.”
Been watching $OM (MANTRA) closely this week and it’s starting to feel like a real RWA breakout play.
$OM’s holding steady around $6.24, up nearly 9% since the start of the week.
But it’s not just price action it’s what’s happening under the hood that caught my attention.
➜ The Catalyst
On Monday, MANTRA (@MANTRA_Chain) dropped a big one: a $108M Ecosystem Fund to fuel RWA innovation. That’s not pocket change.
Backed by names like Laser Digital, Amber Group, and Brevan Howard Digital, this fund isn't just a marketing flex, it’s infrastructure-level conviction in the onchain RWA thesis.
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