The OmiseGo team is preparing to expand the business alliance with two financial institutions in South Korea. After Ripple (XRP) and EOS succeeded in making such moves, the Omisego team signed an agreement with Shinhan and Woori , two major South Korean banks. Both banks will work on Omisego’s Blockchain to ease financial transactions.
The continued presence of OmiseGo at the project of Asia Pacific Economic Committee (APEC) is also seen as an important detail. The team works on projects related to the role of the blockchain technology; especially on the area of increasing the use of Blockchain technology.
OmiseGo is currently working on Blockchain technology’s use of financial services and other services.
According to many people, the legality of cryptocurrency remains a major controversy, Jun Hasegawa, Founder and CEO of OmiseGo, explained that cryptocurrencies could play an important role both as a means of exchanging and as a value repository. She pointed out that cryptocurrencies are harmonious, private and scalable, and that they have begun to be incorporated into the traditional trading and the financial system and helped with the money transfers worldwide.
Despite all these important breakthroughs in the global system, Hasegawa emphasized that the crypto market with Bitcoin and other cryptographic currencies are still comparatively small in size. When the fiat-currency is compared, the crypto market’s estimated value is around $400 billion whereas the total fiat currency around of the world is about 280 trillion dollars.
OmiseGo, according to the CoinMarketCap, is currently trading at $16.12. It is the 21st in the first 25 list and has a market cap of $1.66 billion. It will be interesting to observe OmiseGo’s growth after the emerging with Shinhan and Woori takes place.