[Asia Economy Reporter Junho Hwang] Hallyu fandom platform company Hallyu Bank (U.S. Hallyu Holdings) sold the blockchain division's coin (KDC) sector on the 20th.
Hallyu Bank signed a sales contract with Kingdom Coin Holdings Inc., located in the Cayman Islands, on June 22, and on the 19th transferred operational rights of the blockchain cryptocurrency sector, including the mainnet and servers, as well as the issued coin (KDC) and the Fan2 Wallet (tentatively renamed Fandom Wallet after transfer).
Through this contract, Hallyu Bank will only retain KDG (a stable-type common reward token within Fan2 for user rewards). A Hallyu Bank representative stated, "As the global user base of the fandom platform 'FANTOO,' operated by Hallyu Bank’s subsidiary FNS, surpassed 6 million, we signed this contract to separate the cryptocurrency (KDC) from the platform to protect users from price fluctuations and risks associated with cryptocurrencies."
According to the contract, FANTOO users can receive rewards in the form of the reward token 'KDG.' Unlike KDC, KDG does not experience price fluctuations and can be used within the platform. Going forward, Hallyu Bank plans to expand the use of KDG as a payment method by linking it with gift certificates, gift card commerce, and more.
A Hallyu Holdings official said, "We will focus on the FANTOO business going forward and strengthen our foundation for sustainable growth."
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