Korea's Largest Messenger Sees Potential in DeFi Market
Shutterstock
Main page News, South Korea, Crypto Market, DeFi, Cryptocurrency
Hot topic
Sept. 23, 2020

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.

Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.

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.

Access more than 50 of the world's financial markets directly from your EXANTE account – including NASDAQ, London Stock Exchange and Tokyo Stock Exchange.

Read also:
Please describe the error
Close