• Thu. Aug 11th, 2022

Vibe Company Metabus Business Expansion

Bywiret

Aug 1, 2022

Cubiers, a fintech subsidiary of Vibe Company, announced on the 1st that it has merged with Directions, a blockchain technology company.

As a result, Vibe became the largest shareholder in the direction. Along with Quantit, another subsidiary, it plans to strengthen business synergy based on Directional’s own blockchain technology.

The merger was promoted to strengthen the capabilities of the Vibe fintech business and the Metaverse business, and in the case of the fintech business, Cubias and Quantity were previously playing a major role.

Cubiers is a company that provides financial product evaluation solutions based on financial engineering models. Through the self-developed opening margin calculation system “QvIM,” it passed the ISDA SIMM model unit test related to the opening margin of non-liquid over-the-counter derivatives transactions for the first time in Korea in 2019.

In order to strengthen its fintech business capabilities, Vibe acquired a stake in Cubius last year and incorporated it as a subsidiary. Along with Quantit, it is continuing technical and business cooperation by promoting the development of a cloud-based financial product valuation system.

Directional was established in 2018 and was selected as the No. 1 innovative financial service of the Financial Services Commission in 2019 in recognition of its own technology. As a representative service, it operates a “stock lending platform” that allows individual or institutional investors to lend and borrow stocks.

The Directorate has its own mainnet that is compatible with Ethereum Virtual Machine (EVM) based on POA consensus algorithm. It has the advantage of maintaining a stable and independent blockchain ecosystem when it has its own mainnet.

Vibe and Directions will first start developing “Duple Bank,” which is scheduled to be released in the first half of 2023, with the aim of building a blockchain-based token economy on Duplanet. Duple Bank is a service that allows Duplanet users to operate funds for various purposes and forms, such as tokens or non-replaceable tokens (NFTs)

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