Indonesia–U.S. Tariff Talks Near Completion as Both Sides Push for Year-End Deal 
Trump Signs Executive Order to Establish National AI Regulation Standard 
Intel’s Testing of China-Linked Chipmaking Tools Raises U.S. National Security Concerns 
Fed’s Dovish Tone Sends Dollar Lower as Markets Price In More Rate Cuts 
Mizuho Raises Broadcom Price Target to $450 on Surging AI Chip Demand 
Evercore Reaffirms Alphabet’s Search Dominance as AI Competition Intensifies 
Asian Stocks Rally as Tech Rebounds, China Lags on Nvidia Competition Concerns 
US Charges Two Men in Alleged Nvidia Chip Smuggling Scheme to China 
SpaceX Begins IPO Preparations as Wall Street Banks Line Up for Advisory Roles 
Wall Street Futures Dip as Broadcom Slides, Tech Weighed Down Despite Dovish Fed Signals 
EU Court Cuts Intel Antitrust Fine to €237 Million Amid Long-Running AMD Dispute 
SK Hynix Labeled “Investment Warning Stock” After Extraordinary 200% Share Surge 
Ireland Limits Planned Trade Ban on Israeli Settlements to Goods Only 
Modi and Trump Hold Phone Call as India Seeks Relief From U.S. Tariffs Over Russian Oil Trade 
South Korea Extends Bond Market Stabilization Measures Amid Rising Financial Risks 
Oil Prices Rebound as U.S.-Venezuela Tensions Offset Oversupply Concerns 
Australia Enforces World-First Social Media Age Limit as Global Regulation Looms 
Viva Republica would eliminate transaction fees for Toss users starting Monday, as it prepares to launch Toss Bank next month and gears up for growing competition with internet-only banks and other fintech firms.
The app Toss, which handles up to 2 million won at any given time, previously charged 500 won for each money transfer after providing the first 10 transfers free.
Toss Bank will be the country’s third internet-only bank after KakaoBank and K bank.
Lee Seung-gun, founder and CEO of Viva Republica, developer of Toss and South Korea’s leading financial technology company, said that they would eliminate the psychological barriers for consumers in remittance, their most frequently used area, to maximize satisfaction.
Viva Republica decided amid the apparent financial losses due to the free transaction scheme.
Industry sources have speculated that the company would be burdened by over 1 billion won due to the free transaction.
An industry executive said that the Toss move is inevitable as other internet-only banks attract customers with free transaction fees and local banks offer no charge for their loyal customers.
A banking industry expert noted that internet-only banks already offer free transaction fees, so Toss was expected to make that move sooner or later.
The country’s simple remittance in 2020 stood at 130 trillion won, or 356.5 billion won a day, up 52 percent from 2019’s 234.6 billion won.
Out of total remittances in 2020, 92 percent were through fintech companies like Toss and Kakao Pay.
