MEMORANDUM OF STRATEGIC PARTNERSHIP ON INTRODUCING CRYPTOCURRENCY ESTABLISHED

Ulaanbaatar /MONTSAME/ A forum themed ‘Crypto Nation’ took place on December 2, in the Corporate Convention center, with an aim to discuss cryptocurrency, a digital asset. Organized by Ard financial group, over 100 delegates attended the forum and they discussed cryptocurrency, bitcoin, legal environment of Mongolia, technology advantage of bitcoin’s blockchain, development of electronic money and future perspective. CEO of Ard Financial Group Ch.Gankhuyag underlined blockchain technology, the fundamental technology of bitcoin is being used for not only producing cryptocurrency but also delivering state services immediately in some countries and providing possibility to save time and money. With the help of blockchain technology it is feasible to verify documents including signature, land ownership certificate and property registration. Thus “it means we will transfer to paperless or digital era”, he said. During the forum a memorandum of strategic partnership cooperation was established by Ard Financial Group, Grape City Mongolia LLC and Most PSP LLC. In scope of strategic partnership the parties will collaborate in introducing bitcoin and cryptocurrency in Mongolian financial market and payment system, using like other foreign currencies, help Mongolian costumers use bitcoin and cryptocurrency market, render financial services and introduce advanced technological solution. B.Batchimeg