This cryptocurrency has partnered with the biggest credit card company in South Korea

Omise, the company backing the OmiseGo Network [OMG] has partnered with Shinhan Card, the largest credit card company in South Korea according to an official announcement posted in their blog yesterday. The partnership would seek to explore synergies aimed at cracking the fintech space using blockchain based payments.

Shinhan Card, a subsidiary of the Shinhan Financial Group, is one of the top 5 credit card players in the world. “Shinan Card recently started issuing blockchain-based mobile coupon and is working to expand digital banking and payment services using blockchain technology under the business strategy of ‘hyper-connected management,’” said a Shinhan Card official to PulseNews.

The partnership would allow Shinhan Card to develop the overseas proceessing capacities of Shinhan FAN Card and increase their global merchant base. They also seek to develop a global FAN Card as well. It would be done by leveraging OmiseGo’s server & mobile SDKs to utilize their payment solutions.

“Omise and OmiseGO are working to revolutionize the way digital value moves globally, with an end goal of creating a platform that facilitates a decentralized economy. The OMG platform, using the Plasma architecture, is being built as a public network that is powered by Ethereum.” said Jun Hasegawa, CEO of Omise. “The first phase of the wallet SDK was recently release and is available for anyone to use. We want to make it easy for those who need online asset exchange as part of their business to connect seamlessly to the OMG Network.” Hasegawa continued.

OmiseGo is in the top 20 cryptocurrencies by marketcap as per Coin Market Cap Website. OmiseGo is a lightweight blockchain built on top of the Ethereum blockchain that focuses on enabling cross border payments in a decentralized fashion. It was also conceived as a scaling solution for the Ethereum Main Chain by its utility of the Plasma architecture.

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