SK Square, an investment firm that focuses on the SK Group, is working on producing its own cryptocurrency. SK Square aims to develop a blockchain-based economic system that will serve to bridge the gap between the virtual and real worlds.
A blockchain-based virtual economy system connecting SK information and communication technology (ICT) services across all disciplines, such as the metaverse, e-commerce, and content is the goal in order to dominate the market ecosystem and gain dominance in the global market place.
This year, SK Square intends to promote the issuance of cryptocurrencies.
According to the investment banking (IB) business, SK Square recently established a blockchain task force (TF) in charge of the cryptocurrency company and began the issue of cryptocurrencies on the 23rd.
SK Square, which was spun off from SK Telecom at the end of last year.
South Korean Crypto Market is Valued at more than $40 billion
According to the Korea Financial Intelligence Service, the domestic cryptocurrency market had a value of 55.2 trillion won at the end of last year.
The daily average trading volume is 11.3 trillion won.
it is likely to surpass the daily average trading volume of the KOSDAQ in the near future (11.85 trillion won).
The cryptocurrency industry, both domestically and internationally, is rapidly growing in both size and importance.