Nexxus Signs MOU With UAE Firms on Digital Payments Cooperation

Nexxus said July 9 that it signed a three-way memorandum of understanding with Changer.ae, a digital-asset custody and settlement company, and PayTheFly, a digital-asset payment technology platform.

Changer.ae holds digital-asset custody and arranging-and-brokering licenses from the Financial Services Regulatory Authority of Abu Dhabi Global Market. PayTheFly is a Dubai-based payment technology company.

Under the agreement, the three companies plan to jointly build global payment and settlement infrastructure for the gaming industry.

Nexxus expects the partnership to broaden digital-asset payment cooperation between South Korea and the UAE. The company also plans to support Korean game companies seeking to expand into the UAE by using the country's regulated payment infrastructure and by broadening related partnerships.

Chief Executive Officer Jang Hyun-kook called the collaboration a key foundation for building global gaming payment infrastructure within the UAE's regulated system. Nexxus will establish a settlement model based on the ADGM and FSRA framework and present a regulatory-compliance model for game companies' global digital payments, he added.