FSN Signs MOU with Wave Ridge for 'Digital Asset Investment Product Development'

[Asia Economy Reporter Jang Hyowon] Comprehensive digital marketing group FSN announced on the 9th that it has signed a strategic partnership (MOU) with Wavebridge, a fintech specialized company based on quant algorithms, for the purpose of developing digital asset investment products.

Wavebridge, which signed the MOU with FSN, developed the virtual asset index "Wavebridge Index" after recruiting Lee Taeyong, former president of Mirae Asset Global Investments. The data calculated through quant algorithm analysis, the "Wavebridge Virtual Asset Index," is actively utilized in domestic and international markets, and has gained credibility, notably being the first Korean index supplied to Bloomberg's online securities trading software, the "Bloomberg Terminal."

Starting with this MOU, FSN plans to integrate the virtual asset index developed by Wavebridge and various investment algorithms widely used in the existing regulated financial market into its blockchain business sector in diverse ways to jointly develop and operate various digital asset investment products such as digital asset index funds and digital asset ETFs. The company especially intends to jointly pioneer the global market focusing on regions where financial institutions actively invest in digital assets.

FSN expects that Wavebridge's "virtual asset index" will serve as a reliability measure for users during the development of various services by "Dfinix," a decentralized exchange (DEX) under preparation in FSN's blockchain business sector, thereby creating broad synergies.

Lee Sangseok, Co-CEO of FSN, stated, "Recently in Thailand, the largest bank acquired a cryptocurrency exchange, and the expansion of blockchain and DeFi areas by regulated financial institutions is rapidly progressing. Therefore, the cooperation between Wavebridge, which achieves innovation with financial expertise, and FSN, which has excellent blockchain technology and organization, is expected to generate various synergies." He added, "Through this MOU, we will launch various digital asset investment products utilizing traditional financial techniques and lay the foundation to grow into Asia's No.1 comprehensive digital asset platform company."

Oh Jongwook, CEO of Wavebridge, said, "Wavebridge, recognized in the global market based on excellent quant capabilities, and FSN's blockchain business sector, leading the Asian DeFi market, can create great synergy." He added, "We will continue to focus Wavebridge's quant and financial capabilities, expanding business in the US, Europe, and Singapore, to develop excellent products."

Last month, FSN showcased continuous achievements in its blockchain business sector, including launching the first NFT project "Tiara Comeback Commemorative NFT" based on its cryptocurrency SIX. In particular, the P2P-type decentralized exchange platform "Dfinix," which intermediates cryptocurrency transactions between individuals, is the second DeFi project officially recognized by Klaytn, solidifying its status in the industry. Dfinix, which started services based on Klaytn in June, achieved a total value locked (TVL) of 89.1 billion KRW within two weeks, and recently launched Rebalancing Farm and long-term staking, which apply the traditional financial technique of rebalancing strategy to digital assets for the first time in Korea, continuing its steady growth.

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