ICONLOOP and Korean insurer SK Holdings C&C signed an MOU to co-develop financial services blockchain applications. The blockchain startup has already developed authentication services as well as claims handling.
ICONLOOP is the corporate private blockchain arm of the Korean-founded
ICON blockchain protocol which has a top 40 cryptocurrency. The companies are not planning to target large financial institutions. Instead, they’re aiming at SME financial companies. Possible products include car insurance claims and a tokenized version of mileage rewards points.
“With the MOU, we expect the blockchain platform of ICONLOOP to spread to not only domestic but global financial institutions based on SK Holdings C&C’s knowledge of financial industries and its excellent technical capabilities,” said JH Kim, the CEO of the ICONLOOP.
Article continues …
Want the full story? Pro subscribers get complete articles, exclusive industry analysis, and early access to legislative updates that keep you ahead of the competition. Join the professionals who are choosing deeper insights over surface level news.
