H2O Hospitality Named Key Partner for UAE Blockchain

## H2O Hospitality Joins UAE's Blockchain Tourism Revolution as Key Partner! H2O Hospitality, a hospitality tech company leading innovation beyond Korea and onto the global stage, has joined the ambitious national blockchain project of the United Arab Emirates (UAE) as a key partner, preparing to change the paradigm of the global tourism industry. H2O Hospitality has signed a strategic partnership with 'ADI Foundation', which is building next-generation blockchain infrastructure based in Abu Dhabi. This achievement designates H2O as a 'Key Strategic Partner for Travel and Consumer Sector', one of the core drivers of the 'ADI Chain'. The ADI Foundation was established by Sirius International Holding, a technology subsidiary of IHC (International Holdings Company), the Middle East's largest holding company with assets totaling $240 billion (approximately 350 trillion KRW), boasting an overwhelming scale from its very inception. This project goes beyond mere inter-corporate cooperation; it aligns with the UAE's national vision. Earlier this year, the UAE announced plans to issue a Dirham (AED)-pegged stablecoin based on the ADI Chain, under strict regulation by its central bank. This is an unprecedented digital financial revolution, mobilizing key national institutions, including FAB, the UAE's largest bank, issuing the stablecoin, and the giant holding company IHC participating as a partner. At the heart of this massive revolution, H2O Hospitality plays a unique role. This involves taking responsibility for issuing 'non-custody mobile wallets' for tourists visiting the UAE from all over the world. H2O plans to perfectly integrate the ADI Chain solution into its smart check-in system, establishing itself as a key distribution channel that enables tourists to easily and conveniently exchange and pay with stablecoins. With QR code payment infrastructure for stablecoins already being built across the UAE, H2O's technology has the foundation to be immediately applied to real-life situations. There are clear reasons why the UAE is moving to activate blockchain-based stablecoins in this way. Currently, the annual foreign exchange demand from international tourists visiting the UAE amounts to approximately 217.3 billion Dirhams (about 87 trillion KRW), with local exchange fees reaching up to 5%. Through this project, the UAE aims to significantly reduce the exchange burden on tourists, create a more attractive tourism environment, and further revitalize the tourism industry. H2O Hospitality expects to create innovative new revenue models combining fintech and data through this collaboration. Notably, global Web3 investment firm Hashed is co-participating in the mobile wallet development, further increasing the project's chances of success. Lee Woong-hee, CEO of H2O, stated, "It is an immense honor to participate in a key project in the UAE, which aims to be a global digital asset hub." He strongly expressed his ambition, saying, "We will build next-generation infrastructure that allows tourists to conveniently use stablecoins as if they were using existing currency, even without an understanding of blockchain technology." Through its participation in this UAE blockchain project, H2O Hospitality will provide safe, convenient, and efficient blockchain-based travel experiences to tourists worldwide, opening new horizons in the global hospitality tech market.