On Monday, Dunamu, the operator of crypto exchange Upbit, and credit card firm BC Card inked a memorandum of understanding to develop a non-fungible token (NFT) and metaverse-based credit card.
Certain offline Dunamu BC Card purchases will be accompanied by the issuing of a complimentary NFT in Dunamu's 2nd Block metaverse.
According to research undertaken by a lawmaker using CoinGecko data, Dunamu's Upbit is the largest cryptocurrency trading platform in South Korea, controlling up to 88 percent of the local market last year.
Shinhan, KB, Hyundai Card, and other major credit card firms in South Korea have introduced or cooperated with NFT services.
Dunamu bought a 1% stake in Woori Financial, one of South Korea's largest financial firms, last year. Dunamu's NFT credit card will not be available until later this year.