LG CNS, an LG’s IT solutions affiliate has entered into a partnership with Kakao’s blockchain-focused subsidiary Ground X to expand the use of blockchain in business areas, The Korea Herald reports.
Both companies agreed to build mutually compatible infrastructure. The Head of LG CNS’ Future Strategic Business Division, Ha Tae-Seok says currently, there are an active ‘inter-chain’ projects within the industry to connect unique blockchain ecosystems.
"We will break down the existing boundaries between private and public blockchains through this partnership and combine our strengths for new business opportunities," he added.
Ground X is a blockchain-focused company that launched its public blockchain platform, Klaytn, in June. It provides a developer-friendly environment for blockchain coding and operation, the report states.
Previously iHodl reported that popular South Korean messaging app Kakao plans to launch its own cryptocurrency wallet later this year.
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