A Memorandum of Understanding was signed today to formalise the intentions of ITU and Korea Institute of Finance to work together with research and study into digital finance. The use of digital finance could boost the annual GDP of emerging economies by US$ 3.7 trillion by 2025. The reliance on Fintech brings with it a need for policy and technical standards for digital finance. Dr Cheasub Lee, Director of ITU’s Telecommunication Standardization Bureau and My Myong Hwal Lee, Vice President of Korea Institute of Finance signed respectively.
