OmiseGo (OMG) is one of those rare cryptocurrency ventures that put the horse before the cart – unlike most blockchain-based projects. What I mean is that this company actually started out as a company, and didn’t come into being as a result of a big initial coin offering (ICO) or token sale. Omise, the company that launched this currency, was already an established organization with working solutions in Southeast Asia, and the OMG coin came much later down the road.
And it is probably helps explain this cryptocurrency’s latest announcement – a piece of news that is has big potential for this coin in the long run.
OmiseGo(OMG) is inching deeper into the financial sector
OmiseGo (OMG) just made a big partnership announcement that is making long-term mass adoption in Asian consumer markets more of a reality for this cryptocurrency. Specifically, the team working behind the scenes on this digital currency network have been sealing the deal on a brand new relationship with a big-time credit card company in South Korea.
— Omise (@Omise) April 5, 2018
It’s called ShinhanCard, and it’s actually the fifth largest credit card issuer in the entire Asian nation. More importantly, it is part of much larger umbrella organization – Shinhan Bank, which is one of the most powerful in the region.
Now, I must mention this: the Memorandum of Understanding (MoU) signed with ShinhanCard does not – in any way – mean that there is a larger deal with Shinhan Financial Group.
It is, however, still huge news, and its proximity to the bigger banking player is a great sign for the future of this coin.
ShinhanCard may lead to bigger things for OmiseGo (OMG)
With 21.5 million Shinhan card holders in the world, that makes this credit card the tenth biggest issuer globally – and its inextricable link to Shinhan Bank may mean bigger and better things down the line for OmiseGo (OMG).
A lot of work still needs to be put into this partnership, but after time we may see that OMG is the next easily-loadable currency for ShinhanCard users.
Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Please conduct your own thorough research before investing in any cryptocurrency.