Home Web3 Thailand’s SCBX and Korea’s Hashed Ink Web3 R&D Partnership

Thailand’s SCBX and Korea’s Hashed Ink Web3 R&D Partnership

by Sophie Smith

Thailand’s SCBX Partners with Hashed to Promote Web3 Technology Adoption

SCBX, the digital assets arm of one of Thailand’s largest financial institutions, has entered into a partnership deal with Hashed, one of Korea’s largest Web3 investors. In an announcement made on Wednesday, the two companies revealed their plans to collaborate on joint research and development (R&D) initiatives and organize events to promote the adoption of decentralized technology both regionally and globally.

Hashed, a prominent player in the Web3 field, believes that this partnership will combine the expertise of a reputable financial institution with the fundamental principles and technological advancements of Web3. Simon Seojoon Kim, CEO and Managing Partner at Hashed, expressed his confidence that this collaboration will significantly contribute to the growth of the Web3 ecosystem, extending its influence not only in Southeast Asia but also on a global scale.

The collaboration will see Hashed taking the lead in conducting tests on Web3 technologies through its research hub, ShardLab. Hojin Kim, Chief Strategy Officer at UNOPND, Hashed’s startup studio, will oversee these efforts. In an interview, Hojin Kim explained that the focus of the joint effort will be on testing Web3 technologies that can address specific pain points in Southeast Asia’s business environment.

He further elaborated that in Southeast Asia, customers still face certain inconveniences in their daily lives, such as banks that are not as technologically advanced and evolving e-commerce platforms. This indicates the potential for significant improvement in digital transformation for retail customers in Southeast Asia compared to more developed countries.

While the two firms have not yet disclosed any specific projects they will be working on, they have assured that more information will be released in the near future. The partnership between SCBX and Hashed brings together the financial expertise and market presence of SCBX with Hashed’s experience and knowledge in Web3, creating a synergy that aims to foster innovation and technology adoption in the region.

With the ongoing advancements in decentralized technology and the increasing adoption of cryptocurrencies, partnerships such as this one are crucial in driving the transformation of traditional financial systems and accelerating the development of the Web3 ecosystem. As Southeast Asia continues to embrace digitalization, collaborations between financial institutions and Web3 investors will play a vital role in addressing the region’s unique challenges and opening up new opportunities for growth.

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