<p>FD International, the parent company of blockchain consulting and IT company Blockchain Innovation, announced on Friday (local time) that it has signed a <a href="https://www.gokorea.kr/news/articleView.html?idxno&#61;747093" rel="noopener noreferrer nofollow">memorandum of understanding</a> (MOU) to collaborate with the global cryptocurrency exchange LBank.</p><p>“Blockchain-related industries are growing exponentially worldwide, and we hope to create an ecosystem that can have a positive impact on many people through our well-prepped collaboration with LBank,” said FD Group CEOs Jeon Da-seul, Lee Seo-yeon, and Jeon Sol.</p><h2 id="header-0">Lbank’s global presence</h2><p>Established in 2015 in Indonesia, LBank currently boasts a user base of over 10 million people and a daily trading volume of up to $1.5 billion. It currently supports over 50 fiat currencies, several major cryptocurrencies like Bitcoin and Ethereum and a wide variety of payment methods including Apple Pay. It also operates branches in other countries like the U.S. and Canada.</p><h2 id="header-1">Navigating regulatory landscapes</h2><p>FD International has been working on creating Travel Rule solutions for Korean exchanges such as Bithumb, Coinone and Korbit in accordance with relevant regulatory guidelines like the Act on Reporting And Using Specified Financial Transaction Information. The Travel Rule refers to the Financial Action Task Force’s (FATF) Recommendation #16, which outlines that VASPs must share certain personal information about customers — including names and account numbers — when facilitating crypto transactions that exceed a certain amount.</p><p>The firm has also been leveraging its expertise in the blockchain and IT fields to help accelerate major companies such as Klaytn and Everscale. Notably, the company adapts its solutions and technological capabilities to regulatory trends, such as the Financial Services Commission’s (FSS) regulations on security token offerings (STOs) and the European Union’s Markets in Crypto-Assets Regulation (MiCA) legislation.</p>

FD International joins hands with Lbank to expand global blockchain ecosystem

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