South Korean crypto exchanges now handle more remittance volume than banks

South Korean crypto exchanges are now processing more cross-border money transfers than traditional banks, according to data reported in local news. South Korea’s five largest won-denominated crypto exchanges recorded 163.55 trillion won ($125.8 billion) in cross-border transfers last year, a 380% increase from 34.02 trillion won in 2022.  Why are banks investing in crypto companies?...