Binance Joins Kakao’s Klaytn Council; CZ Taunts “Big Corp. Partnerships In The Pipeline”


Binance becomes first blockchain firm to join the governance council of Klaytn, a blockchain based service solution built by Kakao, a South Korean internet giant. The exchange joins LG, Samsung, Unionbank of the Philippines and Celltrion in the 24 member governance council that makes key decisions for the business and technical enhancement of Klaytn blockchain.

Binance joins Klaytn blockchain’s governance council

With the sole aim of expanding the mass adoption of blockchain technologies in the region, Binance revealed in a press conference on the 22nd of October that it was joining the governance council of Klaytn. The leading cryptocurrency trading platform in the world, Binance, is joining the prestigious convention with an aim to offer blockchain related advancement to key decisions.

Responding to the partnership with Klaytn, Binance CEO, Changpeng Zhao wrote on Twitter,

On June 27th, GroundX, the blockchain entity to Kakao launched the main net of Klaytn project. With its focus on decentralized apps, Klaytn is backed to lead the drive in South Korea’s blockchain adoption.

With an intend to develop a blockchain-based system, Klaytn project earlier this year raised close to three hundred million dollars ($300 million) from two different Initial Coin Offerings. The CEO of GroundX Jason Han acknowledged that they are more than humbled to have received backing from Binance, one of the giants in the crypto industry. He also openly invites any other parties that are interested in their mission of making blockchain adoption a mainstream influence.

Huge moves in South Korea

The Klaytn blockchain is forming a powerful network in South Korea with some of the largest companies in the world. Earlier in September, the company announced a partnership with Samsung and LG to launch a crypto compatible smartphone supporting the blockchain.

The Klaytn crypto, a token powering the Klaytn blockchain gained its first ever listing on Upbit crypto exchange in late September.

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