Beatoz, iM Bank sign MOU for next-gen digital financial infrastructure

Blockchain firm Beatoz and iM Bank have entered into a strategic Memorandum of Understanding (MOU) aimed at establishing a next-generation, region-centric digital financial infrastructure and revitalizing local economies. This collaboration seeks to foster an innovative digital financial ecosystem by integrating Beatoz's enterprise blockchain technology with iM Bank's regional financial network.

The partnership will jointly pursue several key objectives. These include designing the structure for stablecoin issuance, creating a payment network that offers reduced transaction fees and instant settlement capabilities, and implementing smart contracts to ensure the transparent allocation of local government funds. A central focus of this collaboration is the realization of a self-sustaining economic ecosystem.

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We are striving to practice our company's management vision of 'New Hybrid Bank.' By combining Beatoz's regulatory-friendly hybrid blockchain technology, we will introduce innovative digital financial services that can spread nationwide, not just to Daegu and Gyeongbuk.

To achieve this, Beatoz and iM Bank will immediately commence concrete technology verification (PoC) stages following the agreement. An iM Bank representative stated the bank's commitment to its "New Hybrid Bank" vision, emphasizing the combination of Beatoz's regulatory-friendly hybrid blockchain technology to introduce innovative digital financial services. These services are intended to be scalable beyond the Daegu-Gyeongbuk region to encompass all local governments nationwide.

Lee Sang-guk, CEO of Beatoz Korea, highlighted that the collaboration with iM Bank, following previous partnerships with Hana Financial TI and Jeonbuk Bank, signifies Beatoz's hybrid blockchain infrastructure meeting the stringent requirements of financial institutions. He expressed anticipation that this agreement will set a standard for the domestic institutional-grade digital asset value chain and serve as a catalyst for the digital transformation of regional economies. The companies plan to expand technical exchanges and, based on the upcoming PoC results, will accelerate efforts to build an integrated payment infrastructure for Daegu-Gyeongbuk, serving businesses from small merchants to large retailers.

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Our collaboration with iM Bank, following Hana Financial TI and Jeonbuk Bank, signifies that Beatoz's hybrid blockchain infrastructure meets the requirements of financial institutions. We expect this agreement to establish the standard for the domestic institutional-grade digital asset value chain and serve as a catalyst for the digital transformation of regional economies.