LG Uplus Releases a Blockchain Cross-Border Payment System

lg launches a blockchain-based cross-border payment system

One of the most popular mobile services provider in South Korea, LG Uplus Corp., informed the public about the release of a special overseas payment service. To do so, the company is going to partner up with its colleagues in the US, Japan and Taiwan.

The service was developed on the base of the blockchain technology, it will be available early next year.

LG Uplus clients will have a chance to conduct cross-border transactions while avoiding high commission fees for overseas operations.

This is the first ever launch of such a scale in Korea, and it is a big step towards introducing blockchain on the state level. A representative of LG states:

In addition to the overseas payment solution, LG Uplus will continue to develop new business opportunities with blockchain and global telecom leaders.

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