[For more diverse corporate information on the startups mentioned in this article, please visit the Unicorn Factory big data platform 'Data Lab'.]
"We are unable to earn any interest on Tether (USDT) funds sitting idle in domestic exchanges. These idle stablecoin funds amount to 800 billion won. 'Dollar Parking' is a service we created to allow investment in high-quality U.S. stocks and ETFs (exchange-traded funds) without the need for complex account opening."
Park Jung-hyun, CEO of Vivridge, recently introduced Dollar Parking after pivoting his business model. Established in August 2020, Vivridge has operated 'Slide,' an AI-based note-taking service for video lectures. The company later expanded into B2B (business-to-business) operations and recently shifted its business direction toward investment solutions based on stablecoins.
Park (CEO) stated, "We wanted to create a solution to assist with asset management within the stablecoin ecosystem, which is rapidly gaining global utility beyond traditional, won-centric investment methods." He explained that witnessing the everyday use of stablecoins during a business trip to Silicon Valley served as the catalyst for this business pivot.
Park (CEO) said, "In Silicon Valley, there are cases where venture capital firms like Y Combinator have paid investment funds in stablecoins. Seeing stablecoins utilized as an asset allocation tool across various domains beyond just payments led us to conceive this service."
Vivridge launched the Dollar Parking service through partnerships with Ondo Finance, the No. 1 global player in real-world asset (RWA) tokenization, and Dinari, a U.S.-based issuer of tokenized securities. The service is available in nine languages and can be used throughout Asia.
The core customers of the Dollar Parking service are individual investors holding Tether. Since late last year, as the won-dollar exchange rate surged sharply, high-net-worth individuals and retail investors significantly increased their purchases of dollar-based stablecoins like Tether (USDT) for currency trading strategies and asset protection. However, unlike in overseas markets, there is no clear way to utilize these funds beyond storing them in digital wallets within Korea.
Park (CEO) said, "We wanted to offer a service that helps those who already hold stablecoins manage their assets." He added, "With Dollar Parking, users can purchase digital tokens (RWA) that directly track the value of real-world stocks right from their virtual asset wallets." In simple terms, this means investors can invest in tokenized assets that follow stocks like Nvidia and Tesla, as well as ETFs tracking the S&P 500.
Vivridge's core technology is an order optimization algorithm. When a user selects a stock and amount, its proprietary AI algorithm analyzes liquidity and time conditions on decentralized exchanges (DEX) in real-time to facilitate optimal price execution. Park (CEO) stated, "While users can access overseas services directly to invest stablecoins, we focused on minimizing the inconvenience and costs faced by domestic retail investors."
As this investment method is still unfamiliar in Korea, Vivridge plans to focus on building trust during the early stages of its service. Park (CEO) said, "The core of any financial service is ultimately trust." He explained that by adopting a non-custodial structure that does not hold user assets directly, they have fundamentally blocked risks such as withdrawal suspensions caused by exchange bankruptcies or hacking incidents.
Stock tokens purchased through Dollar Parking are stored in the individual user's MetaMask wallet, not with the service provider. Vivridge also plans to introduce a program to compensate users for damages should system errors or security incidents occur due to the service's fault.
Park (CEO) presented a long-term vision of evolving beyond a simple order-matching app into an AI asset management platform tailored to individual life goals. He said, "In the future, there will come a time when users do not need to study individually; instead, AI will make optimal investment decisions based on each person's risk profile and asset goals." He added, "On the blockchain, transaction records and liquidity for all tokenized assets, including stocks, bonds, and commodities, are transparently disclosed, allowing AI to make much more sophisticated and transparent judgments."
Vivridge participated in 'Protocol Camp 9,' organized by Hashed, a Web3-focused venture capital firm. At the 'Final Demo Day' held on the 21st in Bali, Indonesia, Vivridge secured first place among 15 participating teams. Protocol Camp is a blockchain talent development program co-designed by Hashed and Shard Labs, providing 12 weeks of mentoring and technical consulting. Leveraging this achievement, Vivridge plans to raise approximately 2 billion won through a Pre-A Bridge round targeting domestic, international, and Asian investors. The secured funds will be allocated to enhancing service trustworthiness, setting compensation limits, and global marketing efforts.
He stated, "We aim to establish ourselves as a personalized AI financial advisor that helps global users holding stablecoins grow their assets safely."
[MoneyToday startup media platform Unicorn Factory]
in FUTURE
