INITECH, a specialized provider of electronic financial security and authentication solutions (CEO Kim Cheolkyun), announced on October 22 that it has signed a strategic business partnership agreement with RoadSystem, a global identity authentication and payment platform company (CEO Jang Yangho), to jointly pursue a "Global Mobile Identity Authentication and Stablecoin Authentication & Payment Service" business.
Through this agreement, INITECH plans to integrate its unified authentication platform, "INIHub," with RoadSystem's mobile passport eKYC platform, "TripPass," to jointly build a next-generation mobile identity authentication infrastructure for both domestic and international users. Based on this infrastructure, the companies aim to provide a variety of services-including remote identity verification, payment, tax refund, and age verification-more easily and securely.
Additionally, the two companies will combine INITECH and its affiliates' ongoing stablecoin services with RoadSystem's "TripPass Payment" platform to create a global authentication and payment ecosystem based on digital assets linked to fiat currencies. In the future, they plan to introduce innovative payment models such as stablecoin payment support at domestic and international merchants, as well as prepaid wallets and card services exclusively for foreigners.
In particular, INITECH will participate in the mobile passport blockchain DID (Decentralized Identification) service demonstration project that RoadSystem is preparing with Japan's DNP (Dai Nippon Printing Co., Ltd) in December, accelerating the overseas expansion of its global unified authentication services.
With this agreement, the two companies plan to closely collaborate in various areas, including expanding global joint business, accelerating entry into Asian and global markets, forming alliances with domestic and international payment networks, and standardizing digital asset payment projects.
Kim Cheolkyun, CEO of INITECH, stated, "This agreement marks the starting point of a next-generation fintech ecosystem that combines authentication, payment, and digital asset technologies. Through innovative authentication and payment services targeting the global market, we will create new growth opportunities."
Jang Yangho, CEO of RoadSystem, said, "By combining the technological strengths and global strategies of both companies, we will provide innovative services in the authentication and payment market for foreigners and jointly establish global standards for digital financial infrastructure."
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
