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NuriFlex signs MoU with LINE Plus Corporation for Central Bank Digital Currency projects

By Pavithra R

June 01, 2021

  • Africa
  • Nuriflex
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NuriFlex signs MoU with LINE Plus Corporation for Central Bank Digital Currency projectsNuriFlex has signed a memorandum of understanding (MoU) with LINE Plus Corporation, under which the two companies intend to collaborate in the Central Bank Digital Currency (CBDC) platform business in various regions, including but not limited to the Caribbean, South America and Africa.

One of NuriFlex’s business specialities involves the design and development of a blockchain-based platform to offer digital payment and other services for various industry sectors. The firm is currently participating as a main technical partner for the national health coverage system in Cameroon, known as the UHC Project, and it is in several discussions with other partners in Africa to launch other services based on blockchain technologies.

“We are excited to partner and collaborate with LINE on CBDC Projects. The blockchain technology experience and business development capabilities that NuriFlex and LINE bring together will be a great advantage to successfully accomplish CBDC business opportunities,” said Elizabeth Park, Chief Executive Officer of NuriFlex Inc.

For the last 2 decades, NuriFlex has focused on the development of a software platform capable of processing a huge volume of data, and implemented such a platform to global utility companies. By combining these experiences with blockchain technology, NuriFlex intends to work with a global partner, LINE Plus Corporation, on global CBDC projects that require a platform that can handle vast volumes of data.

LINE Plus Corporation, the Korea-based subsidiary of LINE Corporation has been researching, developing, and operating blockchain-related services including a CBDC blockchain platform with a dedicated blockchain engineering team. Based on LINE Blockchain technology and experience in participating in CBDC projects, LINE aims to provide a blockchain platform solution that is the right fit for each CBDC project.

“With NuriFlex’s business experience in the region and LINE’s blockchain technology, we hope to bring financial innovation in the Caribbean, South America and Africa with a CBDC blockchain platform,” said Hongkyu Lee, Lead of Blockchain Lab at LINE Plus Corporation.

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