Ethereum infrastructure provider Fireblocks has been commissioned by the National Agricultural Cooperative Federation of Korea to conduct a tax pilot

ChainCatcher news, according to The Block, NH Bank of Korea has partnered with Ethereum infrastructure provider Fireblocks to support the crypto prototype the bank is building. The two companies have signed a memorandum of understanding, which is a non-binding agreement outlining the intent of both parties to collaborate.

Specifically, NHBank will use the Fireblocks Tokenization Engine to explore the integration of digital assets into its VAT and other refund processes.

This also includes its inheritance tax process, which targets the taxation of capital transferred to future generations. In addition to the refund pilot, NHBank is also seeking to identify other "blockchain-driven projects within the NHBank ecosystem and create pathways for collaboration with global financial institutions."