Dunamu partners with BC Card on metaverse-linked credit card

Finance

Published: 21 Feb. 2022, 17:43

Dunamu partners with BC Card on metaverse-linked credit card

Kim Hyoung-nyon, Dunamu co-founder and executive vice president, right, and BC Card President Choi Won-seok pose after signing a memorandum of understanding in Gangnam, southern Seoul, on Monday. [DUNAMU]

Dunamu, operator of Upbit crypto exchange, signed a memorandum of understanding with BC Card to launch a private label credit card that will be linked to its metaverse platform.

The two companies plan to research ways to make offline experiences transferrable to the online metaverse.

Dunamu said on Monday that it plans to launch a BC credit card that enables its users to buy certain products at stores. Those products will also become available in the form of non-fungible tokens on Dunamu’s metaverse platform 2ndblock.

The beta service for 2ndblock launched in November last year.

The signing of the memorandum of understanding took place at the Dunamu headquarters in Gangnam, southern Seoul on Monday, with Kim Hyoung-nyon, Dunamu co-founder and executive vice president, Dunamu CEO Lee Seok-woo and BC Card President Choi Won-seok in attendance.

“Dunamu and BC Card together will provide a revolutionary service that leads the trends of the digital economy,” said Kim. “We hope new technologies like NFTs and metaverse settle to become useful in our daily lives through the two companies’ efforts.”

“The latest agreement is an example of the first case where a credit card company and fintech-blockchain firm have collaborated,” said Choi. “We plan to jointly research and expand business areas.”

Dunamu was established in 2012. Upbit is the largest cryptocurrency exchange in Korea.

BY JIN MIN-JI [jin.minji@joongang.co.kr]