Hanwha Systems Invests in Swiss Blockchain Company Lykke

Hanwha Systems Invests in Swiss Blockchain Company Lykke

by April 17, 2020

Lykke announced that Hanwha Systems – a division of the South Korean Hanwha group founded in 1952 – has made a strategic investment in Lykke’s blockchain-based Fintech company and cryptocurrency exchange.

This strategic investment will provide a platform for both companies’ future plans for growth in the global blockchain business.

Richard Olsen

Richard Olsen

Richard Olsen, Lykke Corp CEO, stated:

“A young company like Lykke operating out of Switzerland needs a partner in Asia, who has built a strong team and a reputation committed for perseverance and quality. We have now worked with Hanwha for more than a year. We are thrilled to partner with Hanwha, they are a perfect match!”

Lykke is a Blockchain based fintech company building a global marketplace for the commission free exchange of any kind of digitized assets. Lykke was founded in 2015 and has been verified by Blockchain Transparency Institute as one of the few crypto exchanges not involved in wash trading. Lykke offers trading of a wide range of cryptocurrencies, 21 fiat currencies, commodities and unique instruments for managing clients’ investment portfolio such as the LyCI product offerings.

Hanwha Systems has actively been involved in the blockchain industry since 2018. The company has launched an Ethereum-based blockchain platform called “H-chain.” The H-chain is a unique platform that can help entities that want to launch blockchain services.

A Hanwha Systems official has stated:

“We started in the blockchain business in 2018 and are still looking for a business model that fits the industry,”. “We will develop companies that want blockchain services to make various businesses applicable through H-chain, and as part of this, we have also invested in the ‘fintech’ sector.”

This is an important next step in the partnership between Lykke and Hanwha. It marks a further enhancement of the synergies between the modern and innovative approach of the Swiss startup with the proven track record of quality and experience of the established Asian conglomerate.