Gwangju Bank has signed a memorandum of understanding with Galaxy Money Tree to collaborate in the field of digital asset-based trade remittance.
The signing ceremony took place on October 13 at Galaxy Money Tree's headquarters in Suseo-dong, Gangnam, Seoul.
Under the agreement, the two companies will verify the applicability of trade remittance models utilizing digital assets and explore new business opportunities in related fields.
To this end, they will initially promote a proof of concept (PoC) for digital asset trade remittance technology between South Korea and Japan, with plans to gradually expand the scope of cooperation based on the verification results.
During the technology verification process, they will implement the entire process from trade document verification for import and export corporations to remittance and settlement in a test environment, comprehensively assessing the applicability of the necessary technology, systems, and business processes for actual trade remittance operations.
* This article has been translated by AI.
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