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Crypto exchange Huobi joins blockchain project Klaytn's Governance Council

Image by Huobi Global from YouTube

Tue, 11 Feb 2020, 12:12 pm UTC

Crypto exchange Huobi announced in a press release that it is joining the Governance Council of Klaytn, a blockchain project led by South Korea’s Internet giant Kakao.

Huobi Group is established in 2013 and is the leading global blockchain and digital asset business. It offers its millions of clients in over 130 countries a secure and convenient trading platform and digital asset management services.

Klaytn is a public blockchain platform developed by Kakao’s subsidiary Ground X. The Governance Council is a consortium of trusted entities that run the Klaytn platform, which is service-centric and offers an intuitive development environment and user-friendly experience.

Huobi said that decided to participate in Klatyn’s blockchain operations to support its effort in bringing blockchain to a wider audience worldwide.

"Klaytn shares a mutual vision with Huobi in strengthening blockchain security and to bring applicable use cases," said Ciara Sun, Vice President of Global Business at Huobi Group. "We are excited to join the Klaytn Governance Council and to work with other key partners like Unibank and LG Electronics to enable traditional companies to utilize the global blockchain ecosystem."

Klaytn currently has 47 service partners in various industries and over a dozen of them have already successfully launched their blockchain services. The Governance Council consists of 27 enterprises including LG Electronic, Union Bank of the Philippines, Celltrion and Yeahmobi. They serve as Klatyn’s decision-makers for Klaytn's business and technical developments. They also work towards developing and implementing the technology of Klaytn-based applications for their core existing services.

"We are pleased to have a world-renown exchange Huobi as an addition to our Governance Council," said Sangmin Seo, the Head of Platform Group at Ground X. "We work with leading companies from various industry domains, and together, we will operate a stable and reliable blockchain platform that can serve as a foundation for many blockchain services to flourish."

In November, Klaytn had announced its plans to launch its cryptocurrency wallet 'Klip' in 2020. The wallet will initially support Klaytn's token 'KLAY' and KLAY-based tokens.

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