LG Electronics adds crypto as new area of business

LG Electronics, South Korean technology giant, announced that they are adding cryptocurrencies and blockchain as their new corporate charter. With these areas, the company aims to start brokerage firm and trading of cryptocurrency assets, which would include also blockchain-based software development and sales. However, when LG was asked on the press conference if they are planning to add exchange, spoke the person said, that nothing has been decided just yet and they were just discussing opportunities.

On Thursday, when general meeting was held in the company, they have announced to add three new business areas – cryptocurrency, blockchain and medical services. Shareholders have also approved the new business goals. But it is not the first time that company expressed interest into digital assets, because in February they have partnered with Kakao Corp., which would introduce them to the world of NFT’s. LG televisions will be able to install NFT platform, with which you will be able to trade artworks from the TV directly. Among that, company also presented cloud game services and Drops Gallery, in which one can view NFT art gallery.

NFT market capitalisation (Source: Trustnodes)

Sources:

https://coingape.com/just-in-lg-electronics-announces-crypto-blockchain-business-areas-corporate-charter/

https://www.thestreet.com/crypto/news/lg-electronics-moves-into-crypto-and-blockchain

https://www.cryptonary.com/lg-electronics-adds-digital-assets-and-blockchain-in-its-corporate-charter/

https://blazetrends.com/lg-electronics-adds-blockchain-crypto-as-industries/

https://cointelegraph.com/news/lg-electronics-adds-blockchain-and-crypto-as-new-areas-of-business

https://www.trustnodes.com/2021/10/06/nfts-near-5-billion-in-market-cap