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LG Electronics is to develop its own crypto technologies

LG Electronics is to develop its own crypto technologies

South Korean technology giant LG Electronics introduced cryptocurrency and blockchain as new business areas in its corporate charter. However, there are no plans to launch its own cryptocurrency.

According to Korea JoongAng Daily, these areas include "blockchain-based software development and sales," as well as "cryptocurrency sales and brokering".

Recall that last month, the tech giant, together with blockchain company Kakao's Ground X, introduced smart TVs that support non-fungible token technology (NFT). The corporation also announced a partnership with NFT auction house Seoul Auction Blue.

The rumors about the launch of a marketplace from LG appeared in January 2022, when the Crypto Exchange Bithumb announced plans to launch the NFT exchange. At that time, several South Korean media wrote that the platform was being developed in cooperation with a subsidiary of LG CNS Corporation. However, this information has not been officially confirmed

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