In an official announcement, Hyundai Motor Securities explained that it will add information about its clients’ crypto holdings to its asset management platform.
Already in NFTs?
Just as a type of struggling business, automakers are also betting on a growing sector to have its way with the new generation.
In April, the indicators are in the red for the automotive industry: declining car sales, difficulties in manufacturing, shortage of semiconductors, inflation on raw materials, congested market.
The sector has therefore turned to blockchain technology.
Alfa Romeo was the first brand to put the tracking, information and data of its cars on the blockchain. But some manufacturers are becoming more innovative in the field of NFT like the Hyundai brand.
For the South Korean brand, it was time to explore the world of Non fungible Token or NFT. The carmaker, in collaboration with MetaKongs, has started to offer exclusive NFTs executed in common since May.
The car manufacturer has thus launched its first exclusive collection of NFTs around the concept of “metamobility”, named “Shooting Star”. Nearly 10,000 non-fungible tokens were put up for sale over two days, with the idea of eventually building a real community, as well as a new revenue stream for Hyundai.
A new partnership with Bithumb!
It’s August 2022 and the automotive brand seems to continue its journey into blockchain, this time it will be around crypto markets.
In fact, Hyudai’s partnership with South Korean crypto exchange Bithumb will allow users of its apps to access real-time data from crypto markets.
Hyundai Motor Securities’ MyData platform is named The Grass, and the company said the new partnership would allow crypto users to check transaction details, account statuses and market prices for selected coins.
MyData includes government-regulated platforms that allow individuals to view all of their assets and liabilities on a single platform.
This means that even if customers have accounts at multiple banks, in addition to stocks, and now crypto, they will be able to view them all at once via such a platform.
Only a few licensed commercial operators in the financial sector are allowed to offer MyData services, which are monitored by the regulatory authorities Financial Services Commission.
The company added that “customers who invest in digital assets” would be able to “easily manage” their crypto holdings via The Herb.
MyData services have previously raised privacy concerns in South Korea. Late last year, neo-banking service Financial Naver accidentally leaked the financial data of about 100 of its customers online while testing its own MyData service.