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.
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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