- 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. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.