Bonanza Lab to Provide Digital-Asset Market Data to Jeonbuk Bank’s SSoC Bank

Bonanza Lab, a digital-asset data company, said on October 8 that it had signed a data supply agreement with Jeonbuk Bank and would provide digital-asset market information to the bank’s mobile financial platform, SSoC Bank.

The arrangement marks the first time a regional bank in South Korea has adopted data from a digital-asset specialist to provide information services to customers.

SSoC Bank users can view digital-asset market trends, rankings by asset across South Korea’s five largest exchanges, real-time news and detailed information on individual assets through the app without a separate application process. Exchange data is provided based on information from Gopax, Upbit, Bithumb, Coinone and DigitalX.

Bonanza Lab collects, refines and standardizes data from major domestic and overseas exchanges to provide integrated market data and market-trend information. The service provided to SSoC Bank uses a webview format, allowing users to move from market trends to asset information and news within the bank app.

The two companies plan to gradually expand the scope of their cooperation, including by adding research and analysis content. Earlier this year, Bonanza Lab unveiled K-DACS, a digital-asset classification system developed jointly with FnGuide, and signed memorandums of understanding on data and research cooperation with Tiger Research and 4Pillars.

Jeon Hyo-yeon, co-chief executive officer of Bonanza Lab, said banking apps are the financial touchpoint customers use most often. Bonanza Lab will provide standardized data in a stable manner so Jeonbuk Bank customers can access digital-asset market information easily and accurately, Jeon added.