Yanolja ties up with blockchain startup to develop stable payment system

Lim Chang-won Reporter Posted : 2018-10-10 10:06 Updated : 2018-10-10 10:06
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[Courtesy of Yanolja]

SEOUL -- Yanolja, a South Korean online room-finding app, forged a strategic alliance with Terra, a blockchain startup which builds the next generation of digital money, based on blockchain and cryptocurrency technology, to develop a stable payment system.

Yanolja said Wednesday that the two companies would seek technology and business collaboration for the introduction of Tera's blockchain-based payment system into Yanolja's platform as well as joint marketing and research. Customers can see discounted prices through Terra's system.

Yanolja provides app-based accommodation information and travel content. Terra builds a group of global e-commerce partners that will help drive fast adoption and usage of its blockchain payment system.

Yanolja said it would try to develop a secure and advanced payment system while utilizing block-chain technology actively in its business. "We are pursuing this collaboration to strengthen our global competitiveness in the era of the Fourth Industrial Revolution," CEO Lee Su-jin said in a statement.

"We will expand our investment and collaboration in research and the development of an innovative global platform that allows users worldwide to use it safely and conveniently," Lee said.