Korea's Largest Messenger Sees Potential in DeFi Market
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23 September
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Kakao’s global public blockchain project Klaytn is ready for issuance of decentralized finance (DeFi) tokens, Ground X’s Business Lead, Lee Yoon-ho, said at seminar held by the Korea Internet & Security Agency.

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Lee pointed out that assets issued in the DeFi ecosystem "can secure user trust" and finally represent a product that can make a true use case for cryptocurrencies.

"I believe that the assets issued in the DeFi ecosystem can secure user trust and become a product that can make a true use case as the frequency and volume of transactions increase worldwide," Lee added.

Ground X's executive believes that in the long-term DeFi industry with such as products as settlement, mortgage loan, and DEXs (decentralized exchange) can outperform centralized services.

4 of South Korea's Largest Banks to Offer Crypto Services

In June 2020, Korea's popular messaging application KakaoTalk launched its own blockchain-based digital asset wallet called Klip. Developed by Ground X, the wallet is integrated into the KakaoTalk chat, a mobile messaging app used by more than 90% of the South Korean population.

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