Galaxia Moneytree Invests in Cardo... Accelerating Digital Asset Custody Business

Published 27 Sep.2021 13:57(KST)

[Asia Economy Reporter Hyungsoo Park] Fintech company Galaxia Moneytree announced on the 27th that it has invested in Cardo, a digital asset custody (safekeeping management) company.

Galaxia Moneytree, along with NH Nonghyup Bank, Korea Information & Communication, and Hexlant, who signed a memorandum of understanding (MOU) in July for mutual cooperation in the digital asset business, jointly invested. Fintech security specialist Aton also participated in the investment.

Galaxia Moneytree has set a strategy to lead service development by utilizing the digital asset payment and operation know-how of its simple payment platform, Moneytree. It strengthens competitiveness in the digital asset business through the NFT (non-fungible token) business expertise of its blockchain subsidiary, Galaxia Metaverse.

Cardo is a custody company that provides reliable infrastructure for customers holding digital assets. It has completed the Information Security Management System (ISMS) certification and is preparing to launch its service.

A Galaxia Moneytree official said, “We plan to focus on creating a new ecosystem for blockchain-related businesses through this investment,” and added, “NH Nonghyup Bank can enable local government cooperation projects, and Korea Information & Communication can apply digital asset utilization methods to card terminal (VAN) payments.”

He continued, “We will also organically cooperate with Hexlant and Aton to lead the custody service market.”