Partnership News: PiLab Technology Signs Trilateral MOU with KICA and CODE
PiLab Technology, the parent company of Bifrost, has officially signed a trilateral memorandum of understanding(MOU) with KICA(Korea Information Certificate Authority) and CODE to provide and expand Web3 authentication services.
Under this agreement, PiLab Technology provides a stable network environment leveraging its mainnet, the Bifrost Network, while KICA provides KYC services based on its technology and know-how regarding personal identification, and CODE provides compliance services for anti-money laundering (AML).
Focusing on how Web3 and its decentralization have been labeled as uncontrolled and risky by traditional institutions, the three parties plan to actively lay the foundation so that digital assets, which currently have limited use within Korea, can be officially recognized and protected as personal assets and also have real-life utility.
About KICA
KICA(Korea Information Certificate Authority) was the first certification authority designated by the Korean government in 2000 to provide certification and authentication services based on public key infrastructure technology. With networks in over 20 countries, KICA is establishing secure cybersecurity environments and providing key services worldwide.
About CODE
Formed by Korea’s leading crypto exchanges (Bithumb, Coinone, Korbit) for proactive and standardized compliance, CODE provides VASP with specialized technology solutions and customized compliance services in accordance with global Travel Rule standards that meet the requirements of the Financial Action Task Force(FATF) and regulators.
About PiLab Technology
PiLab Technology is a blockchain-based technology company currently expanding its multichain ecosystem powered by its own mainnet, the Bifrost Network. While providing the optimum environment for decentralized applications(DApps) to operate on top of multiple protocols, the company is also actively supporting the adoption of Web3 by traditional companies and institutions.
