Seoul, Korea / Dubai, UAE – Legendary Holdings Inc. ("LHI"), the company operating Korea's leading precious metals investment platform – Wingold Platform – announced the successful completion of the joint venture ("JV") agreement with Al Fardan Ventures WLL ("Al Fardan Ventures") to launch the next-generation precious metals investment platform that will redefine how investors across MENA transact precious metals. The joint venture agreement formalizes the agreement reached during GITEX Global 2022 in Dubai, UAE, which was held from October 10, 2022 to October 14, 2022.

Under the terms of the agreement, Al Fardan Ventures and LHI own the JV. Through this joint venture, LHI and Al Fardan Ventures will revolutionize and localize the Wingold Platorm for MENA to offer a one-stop platform for digitized precious metals that provides direct ownership of physical precious metals, 24/7 convenient access, best-in-class user experience, and integrated financial services and cryptocurrency support for investors in MENA.

"I am thrilled to have completed our JV agreement with the Al Fardan Ventures and serve the investors in MENA,” said Terry KIM, the Co-founder and Co-CEO of LHI. "I am especially honored to be collaborating with Mohammed E. Al Fardan. His commitment to innovation inspiring and his experience in fostering disruptive companies in the Middle East will be a critical driver of this partnership's success. I have full confidence that we can accelerate the transformation that will help MENA investors buy and sell precious metals through a powerful and convenient next-gen platform and maximize their investment values." Hong Ryul RYOO, the Co-founder and Co-CEO of LHI, added that “the JV will serve not only as an important opportunity to heighten the competitiveness of the Korean precious metals industry on the global stage but also facilitate the expansion of the Wingold Platform to Southeast Asian markets.”

Mohammed E. Al Fardan, the CEO of the Al Fardan Ventures in Bahrain, remarked, “we are very pleased to sign this JV agreement. Through the Wingold Platform, LHI has pioneered the digitized precious metals market in Korea. Similarly, this partnership represents the starting line to transform how MENA investors buy and sell precious metals through a convenient and secure platform. We plan to fully leverage the technological innovation that LHI has developed to usher in a new era of precious metals investing and offer innovative value-add services that will no doubt excite investors in MENA. LHI brings a wealth of knowledge, experience and vision which will offer potential customers from MENA region with great opportunity to trade and invest in precious metals with a press of a button using an easy-to-use mobile app.”

The JV will elevate the precious metals investment experience for MENA investors in the following ways:

  • Making Precious Metals Investment Easy: The JV will deliver user-friendly functionalities to make the precious metals investing experience frictionless from account creation, account funding, and buying, selling, storing, and redeeming precious metals. The joint venture will ensure that precious metals investing is easy, convenient, and safe.
  • Native Financial Services and Crypto Support: The JV will unlock the value of precious metals through built-in precious metals-backed financial products and services and seamless transactions between precious metals and cryptocurrencies.
  • Peace of Mind: The JV will open the global precious metals market to MENA investors by offering investment-grade gold and silver vetted and securely vaulted at the Royal Canadian Mint, a sovereign mint of Canada, and other vaults globally.

LHI and Al Fardan Ventures plan to launch the precious metals investment platform, “Wingold MENA,” in Q1 of 2023.

About Legendary Holdings Inc.

Legendary Holdings Inc. is the leading precious metals financial technology company in Korea and Southeast Asia. Legendary Holdings Inc. is the developer and operator of the Wingold platform, the first and only platform of its kind in Korea that enables direct ownership of physical precious metals in digitized form.

About Al Fardan Ventures

Al Fardan has established itself as one of the leading family-owned conglomerates in the region for more than 100 years. A business enterprise built around traditional family values and an uncompromising commitment to integrity, premium service and social responsibility, Al Fardan Ventures has created new benchmarks of excellence within its diverse portfolio which has grown to include diverse ventures including jewellery, exchange, property development, automotive, hospitality, technology, heavy industry, advisory, education, healthcare, marine and investment.

For further information, please contact:
Asella Oh
info@wingold.kr