Security solution corporations XCURE said on the 19th it completed a contract to establish a domestic joint venture with Hong Kong's AlloyX. AlloyX is a Fintech company affiliated with Nasdaq-listed Solowin Holdings.
According to XCURE, the two companies will jointly promote security infrastructure needed across digital asset transactions and a real-world asset tokenization business. The main businesses are USIM (subscriber identity module) and eSIM (embedded SIM)-based account security, high-risk transaction approvals, institutional digital asset wallet security, real-world asset tokenization structuring, and a pilot project linking stablecoin payments.
XCURE will handle mobile security and DEVICE trust technology. It said it will leverage USIM- and eSIM-based security technologies and its experience applying Quantum-resistant Encryption (PQC). AlloyX will be responsible for the tokenization platform and digital asset payment and distribution infrastructure. It said it will support business expansion based on stablecoin payments, asset tokenization, digital asset custody, and a network of overseas investors.
According to XCURE, within six months of establishment the joint venture will push to commercialize USIM- and eSIM-based account security services and an institutional wallet security package. Over the following six months, it plans to pursue the first Korea-Hong Kong real-world asset tokenization and security token offerings (STOs) deal and a pilot project to discover domestic assets.
XCURE has built its business base in secure smart cards and USIM- and eSIM-based mobile security. On the 3rd, it also said a third-party allotment paid-in capital increase worth 6 billion won was completed. XCURE plans to invest these funds in security technologies based on Quantum-resistant Encryption.
Last year, XCURE drew attention when SK Telecom decided to replace all customers' USIMs after a hacking incident. XCURE was known to supply USIM chips to SK Telecom, and its share price surged from the 2,000-won range to 6,500 won before falling back to prior levels.