Zhipu AI and MiniMax have significantly higher market to sales ratios than their American counterparts, posing challenges to valuation multiples

[South Korea's Bank Deposit Token Project to Transition to Commercialization, Banking Industry Calls for Adjusted Timeline] According to South Korea's Maeil Business Newspaper, the Bank of Korea is advancing its deposit token project from pilot verification to the commercialization stage. Subsequent tests will include scenarios such as personal transfers, merchant expansion, and treasury fund payments. The banking industry stated that the project's supporting investments are approaching the level of new business operations, requiring enhanced anti-money laundering measures, abnormal transaction monitoring, and system development, while calling for an adjustment to the implementation timeline.

The Financial Commission of Korea plans to expand the regulatory sandbox to the Virtual Asset User Protection Act, paving the way for virtual asset user protection and financial innovation.

Bernstein analysts suggest that conventional DRAM prices may continue to rise in 2027 after experiencing a 4.5-fold increase from the third quarter of 2025 to the second quarter of 2026. The revenue per wafer capacity of conventional DRAM is twice that of HBM, and the profit margin is higher. HBM prices need to be increased by about three times in order to catch up with conventional DRAM in terms of revenue per unit wafer capacity. Storage chip manufacturers will not aggressively increase HBM prices, as the high cost of HBM is not conducive to the development of the artificial intelligence ecosystem and suppresses storage demand.

Heavy selling pushed XRP to its lowest level of the weekend session, but strong buying quickly erased most of the decline and returned the token to its recent trading range.

According to Edaily, the Financial Commission of Korea, Ministry of Planning and Finance, and Bank of Korea have conducted an internal review and concluded that it is difficult to promote the regulatory easing measures required by the industry, and the policy tone has not shifted towards relaxing regulation. Financial Commission officials stated that the institution is currently listening to industry opinions on specific details, rather than planning to relax regulation.