[Asia Economy Reporter Hyungsoo Park] Fintech company Galaxia Moneytree announced on the 27th that it has invested in Cardo, a digital asset custody (safekeeping management) company.
Galaxia Moneytree, along with NH Nonghyup Bank, Korea Information & Communication, and Hexlant, who signed a memorandum of understanding (MOU) in July for mutual cooperation in the digital asset business, jointly invested. Fintech security specialist Aton also participated in the investment.
Galaxia Moneytree has set a strategy to lead service development by utilizing the digital asset payment and operation know-how of its simple payment platform, Moneytree. It strengthens competitiveness in the digital asset business through the NFT (non-fungible token) business expertise of its blockchain subsidiary, Galaxia Metaverse.
Cardo is a custody company that provides reliable infrastructure for customers holding digital assets. It has completed the Information Security Management System (ISMS) certification and is preparing to launch its service.
A Galaxia Moneytree official said, “We plan to focus on creating a new ecosystem for blockchain-related businesses through this investment,” and added, “NH Nonghyup Bank can enable local government cooperation projects, and Korea Information & Communication can apply digital asset utilization methods to card terminal (VAN) payments.”
He continued, “We will also organically cooperate with Hexlant and Aton to lead the custody service market.”
Galaxia Moneytree plans to support Cardo to stabilize early. Based on this, it will develop various new services based on digital assets.
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