Tech heavyweight from South Korea LG Electronics has reportedly included blockchain and crypto into its list of business aspects available in the corporate charter. 

Specifically, LG reportedly included two distinct objectives focusing on crypto during its annual general meeting on March 24th, including “the development and selling of blockchain-based software” and “the sale and brokerage of cryptocurrency”, consequently resulting in speculations of LG rolling out some kind of crypto exchange.

Regarding the firm’s plan of introducing its self-developed exchange or platform, a representative from LG mitigated any conjecture, revealing that “Nothing has been decided yet. We just mentioned business areas in a broad manner.”

Rumors related to LG forming a crypto-centric marketplace reportedly surfaced in early 2022, when the Head of Bithumb – Heo Baek-young – shared a confirmation of the exchange collaborating with “a large company” to build a nonfungible token (NFT) marketplace.

The tech manufacturer has reportedly been adopting an intense attitude when it comes to adopting and integrating NFTs, disclosing in earlier March regarding its alliance formed with blockchain tech firm Kakao’s Ground X to roll out a line of smart TVs that are fully NFT-capable.

LG have reportedly teamed up with Seoul Auction Blue – an online art auctioneer – to work on additional initiatives associated with NFT-based artworks as well.

LG’s announcements reportedly surfaced as other big names in the tech scene and the nation South Korea itself continue to adopt cryptocurrencies and blockchain-related tech.

In early 2022, South Korean tech rival Samsung reportedly revealed its plan to introduce an NFT platform for its smart TVs, together with establishing its own store in the Decentraland metaverse.