South Korean bitcoin exchange Coinone is leading a FinTech consortium with five financial institutions toward the development of blockchain solutions.
Announced this week, Coinone has roped in a handful of financial institutions to jointly develop financial services solutions using blockchain technology.
The consortium’s launch sees five members including Woori Bank, a nationwide banking institution; Shinhan Card, one of Korea’s largest credit card operators; Lotte Card, a finance company that also offers credit card services; Daishin Securities, an investment and securities banking company and; KICC, a prominent payment solutions provider in Korea.
The consortium has been promoting blockchain-based financial services in a changing industry that is increasingly reliant on digital commerce via internet-based services.
The announcement lays out a list of priorities for the Coinone-led FinTech consortium.
- The development and deployment of FinTech using blockchain.
- The establishment of new FinTech services for every consortium member in their own platforms.
- The coordination of communication with institutional and supervisory authorities.
In roughly translated statements, Kang Myung-hoon, CEO of bitcoin exchange Coinone stated:
Through the establishment of this financial consortium, we have
Read more ... source: CryptoCoinsNews
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