Multinational conglomerate LG Electronics has included cryptocurrency and blockchain technology as new business objectives in its corporate charter.
The South Korean firm’s added objectives include the development and selling of blockchain-focused software and the brokerage of cryptocurrencies.
The changes, which were given the greenlight during the shareholders’ meeting, notes that the production of the devices that support NFTs was unlikely to face regulatory pressure.
There are reports that LG could be preparing to launch a cryptocurrency marketplace after Bithumb CEO Heo Back-young hinted at a partnership with a major corporation. The firm downplayed the report, citing tough regulations.
LG has remained upbeat about the blockchain space with the introduction of a smart television set with an NFT support in February in collaboration with Ground X.
The electronic giant also teamed up with an NFT company, Seoul Auction Blue, to implement NFT-based artworks.
Source: Korea JoongAng Daily