Tuesday, October 4, 2022
HomeNFTUpbit plans to issue an NFT credit card

Upbit plans to issue an NFT credit card

Upbit, the largest South Korean cryptocurrency exchange, signed a deal with the credit card company BC Card to make a non-fungible token (NFT) and metaverse-based credit card.

In November 2021, Dunamu became a stakeholder in Woori Bank, one of the country’s major banks. For your information, Dunamu is the owner of Upbit, South Korea’s largest cryptocurrency exchange. Dunamu bought 1% of Woori Financial from Korea Deposit Insurance Corporation, which auctioned off 9.3% of its shares in Woori.  A lot of people in the media said that Dunamu’s purchase was good news for virtual asset businesses in South Korea’s banking business.

Taking forward its plans to dominate the virtual asset market, Upbit inked a memorandum of understanding with credit card provider BC Card to create a non-fungible token (NFT) and metaverse-based credit card. Prior to this, when someone would buy a Dunamu BC Card offline, the person would get a free NFT in Dunamu’s 2nd Block metaverse.

Due to these kinds of initiatives, other major credit card firms like Shinhan, KB, and Hyundai in South Korea have also introduced or cooperated with NFT services.

Vaishali Goel
Technology enthusiast, explorer and academic scholar. Currently exploring the crypto world. Join me in my journey to see how crypto, NFT and Metaverse will change the world.
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