[THE INVESTOR] IT solutions firm SK Holdings C&C and blockchain firm ICONLOOP signed a memorandum of understanding on Sept. 19 to jointly develop blockchain-based financial services.

The firms will collaborate to roll out services targeting banks, insurance firms and stockbrokers. Solutions for car insurance claims, contract management and membership programs are some of the services they plan to introduce in the future.

Kang Woo-jin (left), financial division head at SK Holdings C&C, and Kim Jong-hyup, CEO of ICONLOOP.

“It is important to secure capabilities and technologies in a range of industries to fast grow the blockchain ecosystem,” said Kang Woo-jin, financial division head at SK Holdings C&C.

The firms will also work together to bring their services, including blockchain remittance and payment services, to global markets.

SK Holdings C&C recently launched a blockchain platform where enterprise customers can handle business processes, such as identity verification, logistics and document management, in an easy manner, and solutions that allow companies to issue and utilize cryptocurrencies in their marketing schemes.

ICONLOOP has developed authentication solutions for the Korea Financial Investment Association.

(theinvestor@heraldcorp.com)