Hecto Innovation Connects Stablecoin Ecosystem with Digital Asset Wallets

Hecto Innovation, an IT-based information service company led by CEO Lee Hyuncheol, will hold a briefing session for domestic investors to unveil its vision for the stablecoin business.

On January 23, Hecto Innovation announced that it will host a corporate briefing on its global business strategy on February 9 to enhance investor understanding and boost corporate value. Following recent media reports about a political proposal to achieve KOSDAQ 3000 through digital assets, the company has received a surge of inquiries from institutional investors and analysts wishing to participate.

Hecto Innovation began to accelerate its stablecoin business after acquiring Hecto Wallet One, a blockchain wallet infrastructure technology company, in September. Hecto Wallet One is the only VASP (Virtual Asset Service Provider) in Korea that possesses blockchain wallet infrastructure technology. Currently, 40% of domestic companies with a VASP license use Hecto Wallet One's services. Hecto Wallet One supplies its B2B wallet infrastructure solution ‘Octet’ and its B2C wallet service ‘OhHi Wallet’ to the financial, fintech, and retail industries.

Through this briefing session, Hecto Innovation will reveal Hecto Group’s stablecoin business strategy. In particular, the company will emphasize the reasons why it is focusing on digital asset wallets-including customer acquisition and lock-in effects through the virtuous cycle of payments and digital asset wallets-as well as its future plans for global expansion.

Hecto Innovation highlights that digital asset wallets are the gateway to Web3. From private key storage to sending and receiving virtual assets, and even accessing and using Web3 services, digital asset wallets are essential infrastructure for the blockchain ecosystem. Once stablecoin legislation is completed domestically, demand for both corporate and individual wallets is expected to increase. Overseas, companies related to wallets such as Fireblocks and BitGo are already valued at several trillion won.

Hecto Innovation plans to internalize digital asset wallet technology through Hecto Wallet One and expand its accumulated expertise in authentication and security into the Web3 environment. The ability to target the B2C market with digital asset wallets is also seen as a point of synergy. Since 2022, Hecto Innovation has accumulated experience by developing and operating various platforms. Its practical business experience, platform development capabilities, and customer base are expected to be valuable assets for service expansion. The company is already executing an all-encompassing strategy to spread digital asset wallets by leveraging its communication, financial, and B2C networks.

Its fintech subsidiary, Hecto Financial, has the capability to distribute stablecoins in the global market, creating direct synergy with digital asset wallets. Hecto Financial is currently building a cross-border payment hub by expanding stablecoin infrastructure and its global network. The company plans to provide a variety of services in line with the institutionalization of the stablecoin market through partnerships with global companies.

A Hecto Innovation official stated, “Through this briefing session, we will provide a detailed explanation of the stablecoin ecosystem envisioned by Hecto Innovation,” adding, “We will establish an independent ecosystem through an organic connection, with Hecto Innovation focusing on the B2C sector centered on digital asset wallets, and Hecto Financial providing services for the B2B sector.”