Nexon holding entity NXC sets up fintech platform Arques

2020.03.31 13:33:28 | 2020.03.31 15:01:27

Images of Arques fintech service, provided by ArquesÀ̹ÌÁö È®´ë

Images of Arques fintech service, provided by Arques

NXC Corp., the unlisted holding entity of South Korea¡¯s top game company Nexon, has established online trading platform Arques to add fintech in its business portfolio.

Targeting mainly the tech-savvy generation of those born from 1980 to early 2000, or so-called MZ generation, Arques will offer trading services that allows users to easily manage their assets as if playing games, NXC said Monday as it made the announcement of new fintech subsidiary.

The company found the promising sales future in the MZ generation with their worldwide annual consumption hitting $1.3 trillion, based on estimates by Goldman Sachs.

NXC said Arques would incorporate features of business simulation games and online messenger to make the asset management easier. Also, it will allow users to manage not only digital assets but other equities like stocks and bonds.

The company plans to have Arques start its service in the overseas market first, including the United States, next year. Currently, it is reviewing related regulations. The plan for domestic introduction is not decided yet.

NXC has been actively exploring fintech market. The company bought 92 percent stake in NIS Indra Fund, a fintech-specialized private equity fund with primary focus in India, earlier this month. It also previously acquired European cryptocurrency exchange Bitstamp.

By Lee Yong-ik and Cho Jeehyun

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