Medium announced on the 9th that it had signed a business agreement with BNK Busan Bank and the Korean branch of Sony Music Publishing to establish a digital banking service within the Metaverse platform.
Metaverse refers to a virtual world that goes one step further from the existing virtual reality and combines it with reality so that social, cultural, and economic activities can be performed just like the real world. The Metaverse market, which Bloomberg Intelligence under Bloomberg News predicted to grow to $783.3 billion in 2024, is emerging as a next-generation food source across the global industrial sector along with NFTs.
Medium plans to establish a bank that handles digital assets on the Metaverse platform for the first time in the banking sector through this collaboration with BNK Busan Bank, a commercial bank. Through this, we plan to develop a metaverse banking service equipped with various digital financial services and secure new growth engines.
Medium is ?Supply of mutual trust settlement system (Korea Expressway Corporation) solution ?Establishment of global cross-border payment relay platform (Swift Foundation) ?Establishment of a real estate safe transaction system (Peter Pan’s Good Shop) and benchmark test environment for public institutions, etc. It is a specialized company that is steadily building up its results across the public and private sectors.
In this project, Medium will invest its know-how in the existing business, technology and professional manpower related to metaverse banking services such as blockchain mainnet and NFT service, and take charge of specific business progress and investment.
BNK Busan Bank is planning to launch a digital asset-related business and comprehensive financial services for digital assets such as deposits and loans on the Metaverse platform based on the existing know-how of financial transactions and asset management in the real economy. Sony Music Publishing Korea branch is a global music publishing company and plans to provide a new experience to Metaverse financial customers by providing global digital music to the Metaverse banking service.
Medium said, “The results of this agreement will be an important bridgehead that brings us one step closer to the true metaverse that is in contact with reality. We will lead 'Meta Banking' using the bus platform, leading to global territorial expansion.
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