NongHyup Bank Signs Agreement for Collaboration in Digital Asset Business

Im Myung-su, CEO of Korea Information & Communication (from the left), Shin Dong-hoon, CEO of Galaxia Moneytree, Kwon Joon-hak, President of NH Nonghyup Bank, Noh Jin-woo, CEO of Hexlant, and Lee Sang-rae, Head of Digital Finance Division at NH Nonghyup Bank, are posing for a commemorative photo after signing a Memorandum of Understanding for mutual cooperation in digital asset business at the NH Nonghyup Bank headquarters in Jung-gu, Seoul, on the 7th.

[Asia Economy Reporter Kiho Sung] NH Nonghyup Bank announced on the 8th that it has signed a 'Business Agreement for Mutual Cooperation in Digital Asset Business' together with Galaxia Moneytree, Korea Information & Communication, and Hexlant.

The partners agreed to collaborate on ▲ research and development of custody based on 'Octet' ▲ linkage of non-fungible tokens (NFT) and security token offerings (STO) ▲ cooperation in payments using digital assets ▲ discovery of new businesses in the digital asset sector.

Digital assets and custody are new businesses with highly evaluated market growth potential, and the market for non-fungible tokens (NFT) including artworks, real estate, music, and games is expected to gradually expand.

Nonghyup Bank plans to actively research the digital asset market with its partners and secure digital finance competitiveness by promoting equity investment and business linkage.

Kwon Junhak, President of Nonghyup Bank, said, "Taking this agreement as an opportunity, we will discover new businesses based on digital innovation technology and strive to create a healthy blockchain ecosystem," adding, "We will work hard to leap forward as a leading digital finance bank together with excellent partners."

This content was produced with the assistance of AI translation services.