MOU between theloop & Nonghyup Bank
March 21, 2018; theloop has signed a MOU with Nonghyup Bank to explore Blockchain & FinTech projects. The ceremony was held at the NH FinTech Innovation Center in Seoul.
The two companies will work together on promoting financial API and blockchain use cases through technology research, projects, open seminars, and hackathons.
JH Kim, CEO of theloop, said “we expect to be the top option for the customer in cooperation with Nonghyup Bank, one of the nation’s largest financial sectors, which is likely to lead to disruptive innovation with blockchain technology.”
Through cooperation with NH Nonghyup Bank, thloop will lead the way in building a variety of digital financial platforms based on blockchain.
NongHyup Bank (NH Bank), founded in March 2012, is a subsidiary of NongHyup Financial Group Inc, which, in turn, is wholly owned by NACF (National Agricultural Cooperative Federation). The Bank has about 1,200 branches and offers commercial banking services for its member cooperatives as well as retail banking for consumers in South Korea. In 2013, “Asian Banker” selected NongHyup Bank as the Best Credit Risk Management Bank. NHB is the third-largest commercial lender in Korea.