[Click eStock] "Galaxia Money, Strengthening Core Business and Ready for New Ventures"

Hanyang Securities analyzed on the 26th that Galaxia Moneytree is expected to see performance growth starting next year as it strengthens its core business while adding new businesses. No investment opinion or target price was provided.

Lee Jun-seok, a researcher at Hanyang Securities, said, "Galaxia Moneytree maximized the efficiency of its core business by increasing the proportion of credit card payments in its electronic payment business segment," adding, "It is actively responding to the new STO business through its subsidiary Galaxia Next."

He noted, "There has been no growth in the mobile phone and credit card electronic payment business over the past two years," but added, "By expanding from the existing mobile payment service to include credit card payment services, it recorded a significant performance of 23.5 billion KRW in the first quarter of this year."

He continued, "Although credit card payments generate lower fee income, they also reduce bad debt risk, enabling the establishment of a stable business," emphasizing, "Through this, it appears that the number of merchants and transaction amounts have rapidly increased."

Galaxia Moneytree’s new business is conducted through its subsidiary Galaxia Next, with a focus on NFT and STO businesses. He evaluated, "The STO market is expected to grow rapidly to 16 trillion USD by 2030," and added, "Domestic and international interest is high, as evidenced by the STO legislative public hearing held on July 13."

He further explained, "In line with the future growth potential of STO, the company is actively responding to new businesses such as platform construction with Cardo, a virtual asset custody specialist, signing an MOU with NongHyup Bank, and promoting carbon emission rights and renewable energy STO projects," adding, "It is expected to increase sales efficiency in its core business while actively responding to new businesses."

Finally, he expressed expectations that significant performance from new businesses will begin next year. He emphasized, "Galaxia Moneytree is flexibly responding to the changing financial ecosystem based on blockchain technology and actively embracing change," and added, "Although sales from new businesses are still minimal, meaningful figures are expected to be shown starting in 2024."

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