GLN International

GLN International operates as a fintech platform focused on facilitating cross-border digital asset transactions. The company officially launched in July 2021 as a spin-off from South Korea's Hana Bank, a move designed to enhance its independence and focus on the global payment network business. The initial concept for the Global Loyalty Network (GLN) was introduced by Hana Bank in April 2019. Kyung-ho Kim currently serves as the CEO of the company.

The firm's core business revolves around creating a unified network that connects financial institutions, e-wallet providers, and retailers worldwide. This infrastructure enables users of affiliated mobile apps to perform a variety of cross-border financial activities without needing physical cash or cards. Key services include mobile QR code-based payments, ATM cash withdrawals, and international remittances. GLN's platform is particularly geared towards travelers, international students, and residents sending money abroad, offering real-time currency exchange rates for transactions. The business generates revenue by providing this integrated network and its associated payment, withdrawal, and remittance services to its partners.

GLN's service is accessible through the applications of its partners, which include major financial players like Hana Bank, KB Kookmin Bank, Toss, and Kakao Pay. By integrating with these apps, end-users can make payments or withdraw cash internationally by simply scanning a QR code. The network has established a significant presence in Asia, with services available in Japan, Thailand, Taiwan, Vietnam, Laos, Cambodia, Singapore, Hong Kong, Mongolia, the Philippines, Guam, and Saipan. Strategic partnerships with entities like Japan's JCB, through its 'Smart Code' network, have expanded GLN's merchant acceptance to over a million locations in Japan alone. In March 2023, the company announced a strategic investment round from KB Investment, Kakao Pay, Taiwan's Taishin International Bank, and Japan's Sumitomo Mitsui Trust Bank, valuing the company at approximately 110 billion KRW (around $83.7 million USD).

Keywords: cross-border payments, fintech, QR payments, global payment network, mobile remittance, digital wallet integration, ATM cash withdrawal, financial technology, asset transaction platform, Hana Bank spin-off, international money transfer, e-wallet services, QR code payments, mobile payment solutions, financial services, digital assets, Asian payment network, Kyung-ho Kim, global financial network