NH Nonghyup Bank and Tessa Sign Business Agreement on 'Fractional Investment' Project

Kwon Jun-hak, President of NH Nonghyup Bank (left), Kim Hyung-jun, CEO of TESA Co., Ltd. (right)

[Asia Economy Reporter Buaeri] NH Nonghyup Bank announced on the 6th that it has signed a Memorandum of Understanding (MOU) for mutual cooperation in the fractional investment business with the art fractional investment platform company 'Tessa'.

'Fractional investment' refers to dividing and selling shares of high-value tangible assets such as artworks or buildings online, and it is gaining popularity mainly among the MZ generation who are interested in financial technology.

NH Nonghyup Bank and Tessa plan to jointly develop an 'online fractional investment API' to strengthen investor protection through this agreement. The online fractional investment API is a specialized service for fractional investment companies, focusing on ▲safe segregation and custody of customer investment funds ▲minimizing account access by fractional investment companies ▲management functions by investor and by artwork.

In addition, they plan to cooperate in customer marketing and develop new products based on online equity investment.

Kwon Junhak, President of NH Nonghyup Bank, said, "As digital technology advances, new markets such as fractional investment are expected to continue growing," and added, "Through this agreement, Nonghyup Bank will advance as a digital leading bank while taking the lead in investor protection."

Kim Hyungjun, CEO of Tessa, stated, "We will use this agreement as an opportunity to enhance trust in the platform among art investors and contribute to the popularization of art fractional investment."

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