Neofin “The goal is to lead the global web3 ecosystem”

Neowiz Holdings, the holding company of the Neowiz Group, has recently been making various attempts to strengthen its blockchain business capabilities in the global market.

Currently, Neowiz Partners' subsidiary Abu Dhabi local corporation 'H LAB' is in charge of investment and management in the blockchain business as an intermediate holding company. Blockchain business operation will be carried out by 'Neopin', a subsidiary of H Lab, as before.

On the 4th, GDNet Korea had a written interview with Yonggi Kim, CEO of Neofin, and Jihwan Kim, CEO of HLab. The two are confident that "Neofin is not preemptively responding to regulations, but is creating regulations itself together with Kwan, which is actively nurturing the virtual asset market, so we believe that we will be able to demonstrate strong leadership in the global market." revealed

CEO Kim Yong-ki is a person with more than 18 years of experience in the fields of strategy, accounting and law. CEO Kim Ji-hwan served as the CEO of H Lab and Neofin until September of last year, but recently he has been concentrating on H Lab.

Neofin is a CeDeFi platform that manages virtual assets and provides a safe use environment for DeFi products called decentralized finance. It provides virtual asset storage, mutual exchange support between virtual assets, and decentralized virtual asset deposit service.

According to CEO Kim Yong-ki, Neofin is aiming for the CD-Fi method. It is a compound word of CeFi, which refers to centralized finance, and DeFi, which refers to decentralized finance.

C-Fi is a traditional centralized method, and uses customer funds to carry out secondary business. Although it has the advantage of being safe in terms of security, there is also a risk that companies can misappropriate customer funds. The bankruptcy of FTX, a global virtual asset exchange that occurred at the beginning of the year, can also be seen as an example of C-Fi's weaknesses.

DeFi has the advantage that it is impossible to misuse the customer's funds due to its structure, and the transaction details are transparent. However, it has the disadvantage of being difficult for general users to access and vulnerable to security such as collective hacking.

CEO Kim Yong-ki said, "The Neofin protocol was born by combining the advantages of traditional centralized services and decentralized wallet services such as Metamask to provide a solution to the problems raised in C-Fi and DeFi." Because the PIN protocol is based on DeFi, there is no issue of misappropriation of customer funds, and it is a structure in which customers directly control their assets.”

"Neopin has been carrying out blockchain node validator activities and is preparing for the future of blockchain by preparing the past of blockchain, the present of blockchain through the establishment of the CDFi platform and the Web3 ecosystem, and preparing DeFi regulations." “I think the fact that we are successfully progressing the past, present and future of blockchain is a great strength,” he emphasized.

Unlike existing global DeFi, Neofin focuses on connecting ecosystems such as games, metaverses, non-fungible tokens (NFTs), and services. CEO Kim Yong-ki said, “Various web3 projects are scheduled to be onboarded to Neopin, and this year alone, global web3 shooting game 'Pixel Battle', NFT-based game 'Drawshop Kingdom Reverse', global travel platform 'Tripbitoz', global We have invested in or entered into partnerships with various Web3 projects, such as Web3 live chat service 'Tangled', cultural performance integrated platform 'X-TICKET', and global education platform 'Boomco'."

Based on these strengths, Neofin is conducting a global blockchain business based in the Middle East. HLab, established in Abu Dhabi, is overseeing these projects.

CEO Kim Ji-hwan said, "In September of last year, we established H LAB in Abu Dhabi Global Market (ADGM), an international financial center in the United Arab Emirates (UAE). “H LAB, located in ADGM, will benefit from the advanced regulation of the International Finance Center for cryptocurrency and blockchain virtual assets in the future.”

He said, "When we first launched Neofin, we aimed to preemptively respond to future regulations, but as we proceeded with our business, we turned to directly participating in making regulations." We searched for a country that could make it, and Abu Dhabi, the capital of the UAE, was the most progressive market among them, and highly appreciated Neofin's technology and sincerity, so we came together to make the regulatory bill."

CEO Kim Ji-hwan emphasized that the Middle East and North Africa (MENA) market will become a key base for the global blockchain business, and that Neofin's tangible results will soon be revealed.

He said, “The various financial and non-financial benefits that Neofin receives from ADGM and ADIO are a great achievement. Recently, while several blockchain projects are causing big problems, the fact that H LAB and Neofin have been recognized at the Abu Dhabi government level is a Korean block I think it is a feat in the history of the chain industry."

CEO Kim Yong-gi said, "Neopin is using three regions as bases for global expansion. In addition to the Middle East and Africa (MENA) centered on the UAE, which makes DeFi regulations together, Southeast Asia centered on Indonesia and Northeast Asia centered on Japan are key bases." .

In particular, in the case of Japan, the potential is very high due to the recent government-level virtual asset promotion policy. CEO Kim Yong-gi said, "Neopin recently joined the governance of Pinsia, Japan's top blockchain. In just 4 hours, the number of virtual assets entrusted by users exceeded 1 million, rising to the top in voting power." We are still maintaining a strong No. 1 position, and we plan to actively communicate with Pincia and the governance members in the future to lay the foundation for success in Japan."

Neofin's goal in the future is to become a company that leads the global blockchain business.

CEO Kim Yong-gi emphasized, "In the past, after the dot-com bubble burst, it seemed that all IT companies would go bankrupt, but companies that overcame difficulties are now leading the global market."

“In fact, many blockchain projects are diligently promoting business and upgrading platforms to achieve success in the new era after Crypto Winter,” he said. “Neopin is moving closer to the future of blockchain than any other project. We are leading DeFi regulation, expanding the Web3 ecosystem, and striving for mass adaptation (large-scale commercialization).”