Klaytn, a public blockchain platform developed by internet giant Kakao Corp(KRX: 035720), has signed 5 key business partnership to pursue its global expansion plans. Its mandate for 2022 is to be the blockchain of choice gaming and metaverse projects, while pursuing continued integration with the defi ecosystem.
Klaytn
Klaytn is a public blockchain focused on the metaverse, gamefi, and the creator economy. Released in 2019, Klaytn is the dominant blockchain in Korea, having secured the Central Bank Digital Currency (CBDC) project with the Bank of Korea. Klaytn is also integrated with super app KakaoTalk via its crypto wallet Klip, and accessible to the 45 million KakaoTalk users in the country.
Klaytn Global Expansion Plan
Klaytn is now undergoing global business expansion from its international base in Singapore. These business expansion activities are supported by the US$500 million Klaytn Growth Fund, which aims to grow the ecosystem of companies built on Klaytn.
The fund is managed and disbursed by Klaytn Foundation, a Singapore-based non-profit organization established in August 2021.
Klaytn Key Business Partnerships
Since its international launch in August 2021, Klaytn has signed 5 strategic partnership agreements with the following companies:
- Japanese tech giant GMO Internet Group to explore blockchain use cases on Klaytn, including a JPY-pegged stablecoin
- Indonesia’s Innovation Factory, the digitalisation arm of Salim Group, to explore blockchain-based applications, including asset management solutions, supply chain traceability as well as NFT use in gaming and entertainment
- Asian NFT marketplace East NFT, to harness the global LGBTQ crypto economy with NFTs based on Y Series content and to widen the horizon through collaborations with the world’s largest partners in the art, music and entertainment space
- US-based entertainment group Animal Concerts to mint NFTs for A-list celebrities, starting with an NFT auction for a household name artiste in Q1 2022
- Global fintech accelerator F10 to create an incubation program for blockchain startups in Singapore
David Shin, head of global adoption at Klaytn Foundation, said:
“We have built tremendous momentum over the past 3 months and are well positioned to ride the metaverse wave in 2022. These strategic partnerships in Japan, Indonesia, Thailand, US, and Singapore are core components of our international expansion roadmap. More partnerships with leading gaming companies are in the pipeline.”
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