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- Suhoio has partnered with Chainlink to develop tokenized assets and CBDC use cases in Asia, aiming to accelerate blockchain adoption by financial institutions.
- This collaboration will leverage Chainlink’s advanced technologies and Suhoio’s market expertise to drive innovation in the digital asset industry.
Seoul, September 2, 2024 – Blockchain financial technology company Suhoio, led by CEO Jisoo Park, has announced a strategic partnership with global blockchain firm Chainlink. This collaboration aims to jointly develop tokenized assets and central bank digital currency (CBDC) use cases in emerging digital markets across Asia, including Korea, Japan, and Thailand.
Joint Efforts in Digital Transformation
The partnership between Suhoio and Chainlink is set to accelerate the growth of the digital asset market and bolster blockchain technology adoption by financial institutions. The collaboration focuses on several key areas:
- Chainlink’s Cross-Chain Interoperability Protocol (CCIP): Introduction to Korean financial institutions to enhance cross-chain communication.
- Proof of Reserve: Utilization for verifying prepaid settlement reserves, ensuring transparency and security.
- On-Chain Provision of Net Asset Value (NAV) Data: Improving accuracy and reliability of financial data on blockchain.
“Chainlink has established itself as the industry standard solution for tokenization use cases,” said Jisoo Park, CEO of Suhoio. “Through this strategic partnership, we expect to collaborate extensively with Chainlink in the Asia region, helping to meet the needs of financial institutions and form fundamental solutions for the digital asset industry.”
Strengthening Financial Services
The integration of Chainlink’s cutting-edge technologies will enhance Suhoio’s service offerings, positioning the company as a pivotal player in the blockchain finance sector. This partnership will leverage Chainlink’s robust infrastructure and Suhoio’s deep market knowledge to create innovative solutions tailored for the Asian market.
Niki Ariyasinghe, Head of Business Development for Asia-Pacific and the Middle East at Chainlink Labs, emphasized the significance of this collaboration: “SOOHO.IO’s technical know-how and experience navigating the Korean and broader Asian markets highlight their value in helping to bridge the gap not only within the blockchain industry but also between on-chain ecosystems and traditional finance. Together, Chainlink and SOOHO.IO have the potential to address many of the current needs in the Asian market, and we look forward to continued collaboration, ideation, and implementation of many cutting-edge solutions.”
About Suhoio
Founded in 2018, Suhoio provides blockchain-based digital asset services to financial institutions and enterprises. The company has worked with prominent clients like Samsung SDS, LG CNS, and the Korea Financial Security Institute. Suhoio focuses on CBDC and real asset tokenization (RWA) projects and has developed ‘Touchstone,’ an interoperability platform for financial institutions. Notably, Suhoio is the only Korean company to attract investment from ConsenSys, a blockchain company founded by Ethereum co-founder Joseph Lubin.
A Promising Future
The strategic partnership between Suhoio and Chainlink signifies a major step forward in the integration of blockchain technology with traditional finance. By combining their strengths, the two companies aim to drive innovation and set new standards in the digital asset industry, particularly in the dynamic and rapidly evolving markets of Asia.
