Gyeongnam Pharmaceutical Square Forms Strategic Partnership with Rotda's 'Burrito Wallet'

Gyeongnam Pharmaceutical Square announced on the 11th that it has signed a strategic business agreement with Burrito Wallet, a virtual asset wallet platform of Lottoda, a subsidiary of Bithumb and a digital wallet specialist company.

Through this partnership, the two companies agreed to provide Gyeongnam Pharmaceutical Square's ‘LEMN Token’ on Lottoda’s ‘Burrito Wallet’ platform. Burrito Wallet will offer technical advice and guidance to ensure smooth integration of the wallet into the on-chain environment, establishing a solid business foundation.

Additionally, Gyeongnam Pharmaceutical Square will support business cooperation to effectively realize Lottoda’s efforts in on-chain liquidity and user acquisition, collaborating to provide diverse content.

Gyeongnam Pharmaceutical Square was established for business diversification purposes of its parent company, Gyeongnam Pharmaceutical. It is currently issuing and operating the new distribution platform ‘No Money Market’ in a B2E (Buy to Earn) format and the Lemong PFP. Unlike existing distribution platforms, No Money Market is a distribution platform that rewards consumers with non-fungible tokens (NFTs) for purchases and activities, applying a new concept where users can receive both shopping and economic rewards.

The rewarded NFTs can be traded secondarily on OpenSea or exchanged for LEMN tokens. Through outsourcing and collaboration, No Money Market is being revamped to allow the purchase of various products beyond Gyeongnam Pharmaceutical’s items.

Lottoda’s ‘Burrito Wallet’ is a virtual asset wallet platform developed by Lottoda, a subsidiary of the domestic virtual asset exchange Bithumb. It supports a total of seven mainnets including Bitcoin, Ethereum, Binance Smart Chain, Klaytn, Solana, Polygon, and Casper Network, and manages over 1,000 cryptocurrencies such as Bitcoin and Ethereum.

It is effectively used as a virtual asset management wallet that allows sending NFTs and virtual assets via chat without the need for complex wallet addresses.

Shin Min-cheol, CEO of Lottoda, stated, "We will closely communicate with Gyeongnam Pharmaceutical Square to expand the domestic blockchain ecosystem and advance the platform, striving to present progressive directions."

Park Sung-jae, CEO of Gyeongnam Pharmaceutical Square, said, “The two companies recognize each other as strategic partners beyond mere technical cooperation and plan to establish a cooperative system to expand both companies’ blockchain ecosystems.”

Meanwhile, Gyeongnam Pharmaceutical Square plans to accelerate its new T2E platform business based on its performance, such as selling out the initial batch of Lemona within No Money Market, led by Gyeongnam Pharmaceutical’s mascot LEMONG.

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