OSR Holdings (OSRH) said Thursday it has entered into a memorandum of understanding with its major shareholder BCM Europe and global community organization Taekwondo Cooperative to explore the joint development of a blockchain-based security token.
The envisioned "OSRH Token" is targeted to accept Bitcoin, Tether and the utility token Taekwondo Access Credit as subscription currencies, the company said in a statement.
BCM Europe plans to contribute its Taekwondo Access Credit token rights, reserve, and infrastructure to OSRH, subject to definitive agreements, according to the statement.
The memorandum establishes the collaboration to explore regulatory compliance, token utility, and ecosystem interoperability, and has a three-month term for finalizing the legal and technical framework, OSR said.
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