Kiwoom Securities Signs MOU with Travel Wallet for Cooperation on Digital Assets and Financial Products

Kiwoom Securities announced on the 6th that it has signed a strategic memorandum of understanding (MOU) with Travel Wallet to cooperate in the fields of digital assets and embedded finance.

This agreement was established to seek new business opportunities by combining the strengths of both companies in the rapidly evolving digital finance environment. Leveraging Kiwoom Securities’ retail investment infrastructure and Travel Wallet’s digital wallet capabilities, the two companies will jointly promote next-generation digital asset research and collaborate on new embedded finance businesses.

Joo-Sung Um, CEO of Kiwoom Securities (left), and Hyungwoo Kim, CEO of Travel Wallet, signed a business agreement on the 5th at Kiwoom Securities headquarters in Yeouido, Seoul. Kiwoom Securities

Embedded finance refers to the method of integrating the financial company's functionalities, such as account inquiry and order placement, within external platforms or services. This allows customers to seamlessly use financial functions within the services they are already familiar with.

Through Travel Wallet, Kiwoom Securities aims to enable customers to trade tailored financial products based on their foreign currency holdings (such as yen, dollars, etc.). The plan is to expand customer touchpoints with a seamless embedded finance service.

In addition, the two companies plan to jointly develop customized services tailored to the trends and needs of core user groups, including those in their 20s and 30s, offering features such as fractional investing and installment finance content to enhance accessibility.

An enterprise-wide cooperation framework has also been established, focusing on three key agendas: ▲next-generation digital asset business research ▲cross-marketing initiatives between the two companies ▲and provision of tailored financial content.

Kiwoom Securities CEO Jumsoong Um stated, "This agreement is the first step in naturally integrating the nation's top-tier investment infrastructure into the lifestyle sphere of travel. Beyond short-term profit generation, both companies will mutually share and develop their core competencies to provide users with unparalleled financial convenience."

Travel Wallet CEO Hyungwoo Kim added, "By combining Travel Wallet’s global foreign exchange and payment infrastructure with Kiwoom Securities’ retail investment expertise, users will be able to experience financial services essential for both travel and daily life in a more organic way. With this agreement, we will expand cooperation in digital assets and embedded finance, creating an environment where customers can use financial services more easily and effectively."

This content was produced with the assistance of AI translation services.