Modetour Joins BEATOZ Network as Validator... "Accelerating Next-Generation Travel Settlement System"

Advancing Travel Finance Infrastructure
as a Bridge Connecting Travel, Finance, and Technology

Modetour announced on January 19 that it will participate as a network validator for BEATOZ, a blockchain specialist company, to accelerate its customer-centric digital transformation.

This participation is a follow-up to the memorandum of understanding (MOU) signed between the two companies in September to introduce stablecoin-based payments. It is significant in that Modetour is moving beyond simply adopting a solution to become a core member of the BEATOZ blockchain ecosystem, taking a leading role in advancing travel finance infrastructure.

Through its participation as a BEATOZ network validator, Modetour plans to enhance the stability and reliability of its blockchain-based settlement system and further improve the transparency and efficiency of settlement structures with global partners. In particular, by utilizing stablecoin payments, the company expects to significantly reduce fees compared to traditional international remittance methods and shorten settlement times from several days to just minutes, thereby improving the overall cost structure of the travel industry.

CPG (Crypto Payment Gateway), jointly developed by BEATOZ and Ringnet, is a solution that automatically finds the optimal exchange rate and payment route through intelligent routing, regardless of the asset used by the consumer. Modetour plans to leverage this solution to integrate and manage the complex settlement processes with global local partners and in-store partners through a single infrastructure.

The company expects that the adoption of this technology will also bring meaningful changes to the travel experience perceived by customers. Customers will be able to make automatic payments overseas without visiting currency exchange offices, and refunds for flight or accommodation cancellations can be processed instantly through smart contracts as soon as the cancellation is confirmed.

Positive effects are also anticipated in the B2B environment. Domestic and international partners working with Modetour will be able to reduce settlement periods, thereby increasing flexibility in fund management and operating their businesses within a more stable settlement structure. This is expected to enhance the efficiency of settlement processes in the travel industry and strengthen the foundation for mutual growth with partners.

Woo Junyeol, CEO of Modetour, stated, "Blockchain technology is the key to revolutionizing the high-cost structure of the travel industry and enhancing transparency. By participating as a core partner of BEATOZ, we aim to go beyond simple technology adoption and lead a customer-centric digital transformation that delivers tangible cost savings and convenience, from booking to payment."