Fintech security company Aton is showing strong performance. The news that it is making a full-scale participation in the central bank digital currency (CBDC) pilot project, which is being vigorously promoted by the government and the Bank of Korea, appears to be influencing its stock price.
As of 1:13 PM on the 19th, Aton is trading at 5,630 KRW, up 20.04% from the previous day.
Aton announced that it has been finally selected as the builder of NH Nonghyup Bank’s ‘CBDC Utilization Test Response System’ and has signed the main contract. This is a large-scale project for the CBDC real transaction test scheduled to be conducted by the Bank of Korea in the first half of next year targeting 100,000 general citizens, with seven major domestic banks including NH Nonghyup Bank participating.
Aton is responsible for building NH Nonghyup Bank’s CBDC response system by August next year. Specifically, it will carry out the construction of the CBDC system based on the Naver Cloud Platform (NCP), ▲ development of the deposit token conversion system, ▲ integration with NH All One Bank, and ▲ implementation of the real payment system. It will also complete a system to ensure the stable operation of tokens issued by NH Nonghyup Bank linked to the institution-issued CBDC by the Bank of Korea and to verify legal compliance regarding the government’s designation of innovative financial services.
The use of blockchain technology and deposit tokens was a decisive factor in Aton’s technological and business competitiveness in this project selection. In 2022, Aton conducted a blockchain project by issuing a commemorative coin non-fungible token (NFT) for the 10th anniversary of Nonghyup Financial through its blockchain service subsidiary Track Chain. It has also carried out numerous projects with over 30 virtual asset operators to support the entry of digital asset-related industries into the regulated financial sector, including technical support for the Travel Rule (fund transfer regulations).
Woo Gil-su, CEO of Aton, said, "Participation in the NH Nonghyup Bank CBDC response system construction project has a significance beyond just winning the project, as it can be a milestone that opens a new chapter in future finance." He added, "We will contribute to creating a safe and reliable CBDC ecosystem so that the public can directly experience the innovation that digital currency will bring."
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