Wemade seeks to register as VASP Game developer obtains certificate of ISMS

Translated by Kim So-in 공개 2022-06-14 08:04:28

이 기사는 2022년 06월 14일 08:00 더벨 유료페이지에 표출된 기사입니다.

South Korea’s game developer Wemade is seeking to resume a process to register as a virtual asset service provider (VASP) in a bid to expand its blockchain business through its Wemix platform.

Wemade is reviewing a plan to register its business as a VASP with the Korea Financial Intelligence Unit (KoFIU) under the Financial Services Commission. Wemade Tree, a subsidiary in charge of distribution and issuance of Wemix Coin, and Wemade, which manages play-to-earn (P2E) games, each try to register their businesses separately.

Wemade Tree attempted to register as a VASP last September, but later canceled its registration earlier this year.

Wemade needs to register as a VASP to speed up its Wemix platform business. Wemade, which created The Legend of Mir, uses global blockchain gaming platform Wemix to promote blockchain-based P2E games.

“The VASP registration is an unavoidable process to operate our new blockchain business centering on the Wemix platform,” a Wemade official said. “We will start the registration process as soon as we meet the requirements.”

To do so, the company newly obtained a certificate of Information Security Management System (ISMS) from Korea Internet & Security Agency. The acquisition of ISMS certificate is a requirement for the registration.

“We obtained the ISMS certificate three years ago, but we have acquired the new one as the previous certificate expired and new game services have been added,” the official said. “We will manage subsidiary Wemade Tree’s ISMS as well.”

Wemade have prepared to get the certificate since October 2021. To obtain the ISMS certification, a company needs to meet 80 certification standards, including the establishment and operation of management system and protection measures. (Reporting by Hyun-ji Sohn)
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