South Korean financial conglomerate SK Group to issue its own cryptocurrency
The company intends to create a token based on the existing blockchain infrastructure of the telecommunications company, SK Telecom
24.03.2022 - 15:00
186
1 min
0
What’s new? South Korea’s third-largest conglomerate SK Group has announced that it will issue its own cryptocurrency through the investment arm of SK Square. The company plans to issue tokens within a year via an initial coin offering (ICO), according to the Korean news outlet Hankyung.
Information on the Hankyung website
What strategy is the company planning? SK Group intends to create a token based on the existing blockchain of the telecommunications SK Telecom. It will then expand the service to develop its own ecosystem. All SK Group member companies are expected to start using the cryptocurrency. The token will be included in the ifland metaverse platform of the SK Telecom organization.
What had happened before? The use of cryptocurrencies in South Korea has increased dramatically in recent years and even became one of the main topics of the country’s recent presidential elections. Both presidential candidates launched NFTs related to their election campaigns, which were conducted on the local cable TV network MBN’s metaverse.
Useful material?
Market
Tether Finance division will be responsible for the issuance and redemption of USDT stablecoins
Apr 18, 2024
Trends
The first project introduced on the platform will be BounceBit (BB)
Apr 18, 2024
Business
The rate exchange of the native ACH token reacted with a 10% increase
Apr 18, 2024
Market
Miners are hunting for the first block after halving as the value of the first satoshi could exceed $1 million
Apr 18, 2024
Market
The platform will be non-custodial and accessible to everyone
Apr 15, 2024
Market
China Asset Management, Harvest Global Investments, and Bosera Asset Management have received permits
Apr 15, 2024