• Kakao holds a 96% market share in South Korea.
  • Around $300 million is planned to be raised through Ground X for a native token.

South Korea’s internet giant Kakao Corp has announced the launch date of its own blockchain platform through its blockchain arm, Ground X. The project is scheduled to be launched in on June 27, 2019. Kakao is a messaging giant which provides utilities like gaming, content services, financial services, and mobility services holding 96% market share in South Korea.  

Klaytn, a testnet version of a blockchain platform was released in October by Kakao. This new ecosystem was being tested by ten national and international partners. The platform focuses on decentralized apps. Around $300 million is planned to be raised through Ground X for a native token. $90 million has been already raised for Katlyn by Kakao by repeating its initial coin offering (ICO). It is reported that Kakao will integrate crypto wallet in its messaging app after the release of the Klaytn mainnet.


 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

Cryptos feed

Latest Crypto News & Analysis

Editors’ Picks

Top 3 Price Prediction Bitcoin, Ripple, Ethereum: Rebound attempt after two bloody days

The weekend has left some moves that have generated quite a stir. Bitcoin finally gave way to bass development and took advantage of Sunday to go in search of the EMA50 around the area of $10,000.

More Bitcoin News

Ripple’s partner Santander bank new UK and Poland payment corridor launched

One Pay FX, a banking application powered by Ripple for Spanish banking giant Santander has added another payment corridor between the United States and Poland. An upgrade completed on the app last week enabled instant funds transfer between the two countries but only went live after the official announcement.

More Ripple News

Ethereum price analysis: ETH/USD plunges 24% in line with Bitcoins slide under $10k

Ethereum continued to lose ground following last week’s drop to $260. The second largest cryptocurrency explored the levels to the south failing to find support at $240 and $220 consecutively.

More Ethereum News

R3 blockchain consortium startup contemplates going public via an IPO

According to a report by Bloomberg, R3 a blockchain consortium start is considering going public in an initial public offering (IPO). Bloomberg says sources “familiar with the matter” confirmed that R3 is in talks with various advisers on the same. Details, where the IPO could be executed, are yet to come to light.

More Cryptocurrencies News

Bitcoin Weekly Forecast: BTC bulls get ready for a major assault

The cryptocurrency market has been pretty volatile this week. Bitcoin stayed in the green zone despite wild price gyrations, while major altcoins are nursing double-digit losses on a week-on-week basis.

Read the weekly forecast

BTC

ETH

XRP