SK Planet, one of the important companies of South Korea, shared its altcoin partnership with the public. BTG Pactual, on the other hand, collaborated with Polygon and launched a stablecoin. Here are the details…
SK Planet came to the fore with altcoin partnership
SK Planet, a leading South Korean conglomerate, has partnered with Avalanche, a global blockchain platform, to develop customized Blockchain and Web 3.0 services. This partnership marks the first collaboration in technology and marketing between Avalanche and a South Korean conglomerate. The two companies plan to work closely together to pioneer the next generation of Web 3.0 service and expand their global networks by establishing a dedicated technical team for the SK Planet business.
The agreement ceremony was held on the 29th of last month at the SK Planet Pangyo office building. SK Planet CEO Hansang Lee, CX Business Center President Professor Kim, Platform Center President Taeyang Kim, Ava Labs CEO Emin Gün Sirer, Vice President of Business Development John Nahas and South Korea Representative Justin Kim attended the signing ceremony. One of the key advantages of using the Avalanche subnet for SK Planet is that it can be used independently as SK Planet’s own mainnet while enjoying the technical advantages of Avalanche.
Avalanche could spread to South Korea
cryptocoin.com As we reported, Avalanche is recognized in the global market for its fast transaction completion speed, low gas fee, compatibility with Ethereum Virtual Machine (EVM) and private Blockchain subnet. SK Planet plans to expand the service value of OK Cashbag, which is only available in the real economy, to the digital economy by launching the OK Cashbag membership NFT. Through OK Cashbag membership NFTs, the company aims to provide more experience and benefits to users by allowing them to design the benefits they want, thereby creating new experiences and engagement for users.
Through this partnership, Avalanche is expected to continue its aggressive domestic expansion starting with this partnership with SK Planet. The company is currently negotiating cooperation with various domestic large companies, financial institutions, national institutions and gaming companies. “This partnership is very meaningful as Avalanche has chosen SK Planet as the first example of technology and marketing collaboration with a large local company and as a strategic partner to target the Asian market,” said Emin Gün Sirer, CEO of Ava Labs. At the time of writing, Avalanche is changing hands at $18 with a 5% rise, as can be seen in the chart above.
BTG Pactual launches Polygon-based stablecoin
On the other hand, Brazilian financial giant BTG Pactual, known as one of the largest investment banks in Latin America, introduced its first stablecoin on Tuesday, April 4, through the bank’s cryptocurrency platform Mynt. BTG Pactual, a leading Brazilian financial services firm, specializes in investment banking and wealth management. Founded in 1983, the company has grown into one of Latin America’s leading investment banks.
According to BTG Pactual’s press release, this new crypto-asset, dubbed “BTG Dol,” maintains 1:1 parity with the US dollar, facilitating seamless interaction between the traditional financial system and the emerging digital economy. As a stablecoin, BTG Dol is backed by a stable asset, in this case the US dollar (USD), providing holders with a simple, efficient and secure way to “dollarize” some of their equity.
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