Delio, a South Korean crypto finance company specializing in decentralized finance, and OK Financial Group announced on June 26 that they have signed a memorandum of understanding for blockchain-based financial technology business.

This agreement is designed to introduce new, innovative financial services based on Delio's expertise in digital finance technology and OK Financial Group's financial service capabilities, and to create business synergies between the two companies.

The contents of the agreement include fintech technology cooperation for digital asset management and collaboration for blockchain-based financial business development. The two companies will jointly research and collaborate on developing technologies necessary for maintaining leadership in the upcoming digital financial era and financial services tailored to them.

“Blockchain technology will improve the quality of financial services and enhance reliability and efficiency,” said James Jung, CEO of Delio, adding, “We will do our best to create positive momentum for innovative finance in cooperation with OK Financial Group.”

An official from OK Financial Group commented, “A synergy between new technology and our capabilities in the traditional finance sector will help us to develop new innovative digital financial services. By signing this MoU, two companies express their determination to actively collaborate on creating a win-win opportunity in the new digital finance market. We hope this will serve as a benchmark for future business.”

Delio is a leading South Korean lending platform that has been recognized as the country’s top lending platform in a recent report issued by the Korean Internet and Security Agency, a Korean government agency specializing in blockchain. Delio offers a variety of lending and interest-saving products on its platform and has recently surpassed $1 billion of Bitcoin (BTC) in total value utilized for lending and interest accounts combined. 

OK Financial Group is one of Korea’s leading financial companies offering a broad range of financial products and services. As of 2021, it has 15 affiliates including a savings bank, an investment banking company, consumer finance companies, and non-performing loan companies.