Digital Gold Exchange (DGE), South Korean-based blockchain developer of Ethereum-based cryptocurrency TMTG, has announced that it has entered into a partnership with South Korean medical group Regen to develop a cryptocurrency payment platform for the medical industry.
DGE stated that the new system, in comparison to traditional payment methods, will offer the cryptocurrency users access to medical services at a reduced cost via a secure crypto-backed payment method.
The new platform will accept payments from DGE's TMTG coin, as well as Bitcoin and Ethereum. According to DGE, before launching the service, a patent was tested on its "self-developed decentralized exchange control system" and was completed in South Korea, the US, Singapore, China and Japan.
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DGE explained that the patent aimed to cover a wide scope of services such as "including method on exchanging cryptocurrencies, reserve fund control system, and application according to cryptocurrency trading rules".
In a statement, a Regen spokesperson said: "Implementing a cryptocurrency-based payment system was the most important aspect of our partnership, as this collaboration focuses on providing the next generation of medical solution, stem cell therapy.
"This is a breakthrough for Regen as well, since we have been mostly providing service in plastic surgery and aesthetics. As we are confident with DGE's technology, we are very excited about our partnership."