Credit: LeeJeongSoo – Pixabay
South Korean Samsung has partnered with fintech Credorax in order to develop a solution based on the blockchain for the banks and European traders.
Yesterday, Samsung SDS, the group's technology subsidiary, announced the signing of a memorandum of understanding with the Israeli smart payments specialist Credorax, reports it KoreanHerald.
The two firms aim to offer a solution built on the enterprise blockchain platform Nexledger Universal from the South Korean giant, which will offer the possibility of automating bank reconciliation, money transfers and invoicing.
"In collaboration with Credorax, Samsung SDS will be looking to expand into European industries seeking digital transformation, "said Hong Won-pyo, president of Samsung SDS.
The solution will thus be offered to financial institutions and merchants based in the European Union and the European Economic Area.
The leader added that the partnership was also aimed at developing another payment platform based on Brity Works, a new technology IA developed by Samsung SDS.
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