The Korean-language edition of CoinTelegraph reports that the financial platform of one of Korea’s largest internet companies has joined ICONLOOP’s MyID Alliance.
The MyID Alliance confirmed Tuesday that NHN Payco had joined the initiative as an alliance partner.
A core subsidiary of NHN, the Korean internet giant engaged in a variety of cloud, fintech, entertainment and advertising businesses, NHN Payco offers a wide range of financial services such as mobile payments, money transfers, loyalty points, big data-driven credit ratings, advertising and mobile security solutions.
NHN Payco joins the MyID Alliance as a “growth partner,” i.e., partners that are adopting my-ID’s blockchain ID service into actual services.
Other “growth partners” include travel service Yanolja, car rental platform Carplat and ecommerce platform Cafe24.
NHN Payco has not decided how it will implement MyID into its services, however.
CoinTelegraph notes that NHN has been making other blockchain moves, too.
In particular, NHN’s popular music streaming service Bugs has adopted local blockchain project Terra’s payment service CHAI.
If NHN Payco adopts blockchain technology, other NHN businesses may do so too, including the company’s lucrative game business.
Deputy Director of the MyID Alliance Josh Choi said, “PAYCO and MyID Alliance will consider and review ways to increase user convenience and competitiveness by applying MyID to PAYCO services.”