Woori Bank to develop a digital currency like bitcoin

Home > Business > Finance

print dictionary print

Woori Bank to develop a digital currency like bitcoin

Woori Bank will develop a digital currency built on blockchain technology within this year, the company said Wednesday.

The bank fostered a partnership with two fintech startups - theloop and Dayli Intelligence - to create and manage the currency.

“We will develop a digital currency based on blockchain technology and test usability by the end of this year,” a source at Woori Bank said.

The move is in line with the bank’s strategy to create tech-driven financial services.

In April, the company formed a new division devoted to big data, blockchain technology and artificial intelligence in crafting financial services.

By Park Eun-jee

More in Finance

Kospi hits midday high, closes down on profit-taking

Naver Financial launches advice service for entrepreneurs

[NEWS ANALYSIS] As foreigners rush back, market does an about-face

CU gets into the foreign exchange transaction business

Kospi hits another record high despite Covid spike

Log in to Twitter or Facebook account to connect
with the Korea JoongAng Daily
help-image Social comment?
lock icon

To write comments, please log in to one of the accounts.

Standards Board Policy (0/250자)

What’s Popular Now