Cryptocurrency News & Updates

LG Electronics is going to invest in cryptocurrencies and blockchains

According to reports, Korean tech giant LG Electronics recently updated its business development goals to include blockchain as well as cryptocurrencies. The company may also develop its own exchange.

LG Electronics intends to invest in blockchain

Tech giant LG Electronics has added blockchain and cryptocurrencies to its list of new business areas.

It is specifically about two different goals related to cryptocurrencies. These include “the development and sale of blockchain-based software” and “selling and intermediating in the cryptocurrency market,” which has led to speculation that LG will create some form of digital currency exchange platform.

A LG spokesperson, however, mitigated speculations about LG’s intention to launch a blockchain exchange or similar platform by stating: “Nothing has been decided yet.”

Earlier this year, Bithumb CEO Heo Baek-young confirmed that the exchange was working with a “big company” to expand its NFT market.

NFT TVs

As reported earlier this month, LG is working with blockchain technology company Kakao’s Ground X to launch smart TVs that support NFT. LG also announced a partnership with Seoul Auction Blue to pursue future art projects related to NFT.

South Korean tech giants such as LG are investing heavily in the cryptocurrency and blockchain technologies market. Earlier this year, another South Korean tech giant, Samsung, announced that it would launch the NFT platform for its smart TVs and open a Decentraland store.

One of the most important things about the South Korean election is that cryptocurrency-friendly President Yoon Suk-yeol won the presidential election earlier this month. As we’re all aware, the election campaign of this politician focused on deregulating the cryptocurrency industry in South Korea, as well as establishing policies that will make the country a future home for the unicorns of blockchain technology.

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