LG Electronics has expanded its corporate charter to include the development of cryptocurrency and blockchain-related technology.
South Korean tech giant LG Electronics has officially added blockchain and cryptocurrency as new business areas in its corporate charter., LG added two distinct crypto-related objectives during its annual general meeting on Thursday, March 24. The objectives include “the development and selling of blockchain-based software” and “the sale and brokerage of cryptocurrency,” which led to conjecture whether LG would establish some form of crypto exchange.
When asked about the company’s intention to start its own exchange or platform, an LG spokesperson tempered any speculation, stating,"Nothing has been decided yet. We just mentioned business areas in a broad manner."a crypto-related marketplace emerged earlier this year when Bithumb CEO Heo Baek-young confirmed that the exchange was working with “a large company” to develop an NFT marketplace.
The tech manufacturer has been on a warpath of NFT adoption and integration, announcing earlier this month that it was working with blockchain tech company to introduce a line of smart TVs that are fully NFT-capable. LG also announced a partnership with Seoul Auction Blue, an online art auctioneer to carry out further projects related to NFT-based artworks.