Seoul Labs, a blockchain and fintech company led by CEO Jang Do-hee, announced on the 6th that it signed a memorandum of understanding (MOU) on the 3rd with NTHCHAIN CAMBODIA CO., LTD, a Phnom Penh-based fintech solutions provider, to cooperate in microfinance and fintech business across Southeast Asia.
Seoul Labs said the two companies will move ahead in earnest with joint business initiatives in the Southeast Asian market, where credit information remains limited and access to non-face-to-face financial services is still constrained.
The agreement focuses on addressing chronic issues in the region, including the lack of credit information infrastructure, inefficiencies in loan screening, and the fragmentation of financial services. The two companies plan to jointly identify new business opportunities tailored to local financial demand while also pursuing greater financial inclusion and social value creation.
Seoul Labs will take the lead in platform development and business structure design centered on its blockchain-based digital wallet, Super Wallet. Super Wallet is designed as an integrated digital wallet platform that connects user authentication and qualification verification, transaction and settlement functions, and electronic proof documentation in a single flow. Seoul Labs said it plans to strengthen execution by designing an operating structure that enables real-world local use of the service and by building partnerships with local financial institutions, platforms, and merchants.
NTHCHAIN CAMBODIA will be responsible for providing credit assessment models, financial data analysis, and technical reviews based on its fintech capabilities in location-based alternative credit scoring, loan refinancing, and non-face-to-face secured lending. The company will work with Seoul Labs to enhance screening efficiency and accessibility by advancing assessment models that use non-financial and behavioral data in environments where conventional credit information is limited.
The two companies will jointly design locally connected business models by combining Super Wallet-based authentication and proof systems with alternative credit scoring models. Their strategy is to begin by testing applicability through a proof of concept (PoC) and pilot projects, then expand the partnership and move toward commercialization depending on the results. Details such as the scope of business, division of roles, cost and profit sharing, and implementation schedules will be determined through follow-up discussions. Except for the confidentiality clause, the MOU is not legally binding.
Jang Do-hee, CEO of Seoul Labs, said, “Southeast Asia has strong financial demand, but weak credit information infrastructure often limits financial accessibility. Through this partnership, we will combine Super Wallet-based authentication and proof systems with data-driven alternative credit scoring to create a financial inclusion model that actually works in local markets, and we will gradually expand the partnership and business based on the results of the PoC.”
An official at NTHCHAIN CAMBODIA said, “With our capabilities in alternative credit scoring and financial data analysis, we will manage microfinance risk in a more sophisticated manner. We will work closely with Seoul Labs so that more users can access financial services on reasonable terms.”
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