Deepmind Platform (hereafter referred to as Deepmind), an affiliate of Bitmax, which holds the largest amount of Bitcoin among listed companies in Korea, is expanding its virtual asset business by issuing a stablecoin.
On June 24, Deepmind announced that it had recently issued the stablecoin 'KRDT' on-chain, based on Ethereum (ETH), Base, and BNB Smart Chain (BSC), and had also applied for a trademark for 'KRDT' with the Korean Intellectual Property Office.
A Deepmind representative stated, "KRDT is focused not only on being a simple remittance and payment method, but also on serving as a means of asset transfer and value storage." The representative added, "Unlike existing stablecoins that are primarily intended for domestic use, we aim to enhance overseas utility by linking with major global stablecoins such as USDT, USDC, and USDe."
The issuance of KRDT and the trademark application are interpreted as steps toward Deepmind's full-fledged transition into a virtual asset platform.
On the previous day, Deepmind announced through an electronic disclosure that it had decided to issue convertible bonds (CB) worth 50 billion KRW. The company also decided at an extraordinary general meeting of shareholders to increase the bond issuance limit from the previous 200 billion KRW to 1 trillion KRW. The company name is also scheduled to change from 'Deepmind Platform' to 'Satoshi Holdings.'
The funds raised through this convertible bond issuance are planned to be used for equity investments in other companies, including the acquisition of domestic and overseas virtual asset exchanges.
A company representative said, "We will establish infrastructure for the virtual asset ecosystem and enter the virtual asset business in earnest through coin brokerage and over-the-counter (OTC) trading."
Such moves are interpreted as a signal that Deepmind aims to become a comprehensive virtual asset platform encompassing the entire virtual asset ecosystem, including Bitcoin.
An industry official said, "If the issuance of KRDT and the strategy to link it with global stablecoins are realized, the company will be able to secure competitiveness not only in the domestic market but also overseas."
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