• Mon, 14 Oct 2019, 04:32 PM
  • All times are UTC
  • Edition:
Copy link
Increase text size
Decrease text size
Link copied

Kakao’s Ground X to launch blockchain platform on June 27

Wed, 15 May 2019, 04:30 am UTC

Kakao’s blockchain subsidiary Ground X has revealed that it will launch its blockchain platform on June 27, 2019, Cointelegraph reported.

In March, Ground X released the public testnet of its public blockchain platform Klaytn, called ‘Baobab,’ which followed the trial run of the private testnet 'Aspen’ started in October 2018.

Klaytn focuses on providing an optimized platform for service providers to develop and operate decentralized applications (or DApps). It has partnered with 26 initial service partners to create real use cases thereby seeking to substantiate the value and utility of blockchain technology.

Ground X raised $90 million in a private coin offering which saw participation from a number of venture capital and private equity funds including IDG Capital, Cresendo Equity Partners, and Translink Capital.

Jason Han, CEO of Ground X, said at the time that Ground X aims to grow its user base to 10 million accounts within a year as well as expand its team.

Kakao is a South Korean internet giant and the operator of the country’s dominant mobile messaging app Kakao Talk. In addition to messaging, the company has its presence in a number of other sectors including gaming, content services, financial services and mobility services.

The company reportedly plans to raise a total of $300 million through its blockchain subsidiary to develop a native token. Following the launch of Klaytn mainnet, it intends to release an integrated crypto wallet in KakaoTalk, Cointelegraph reported referring to Fnnews.

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
  • Bitcoin (BTC) $8,292.75 (-1.81%)
  • Ethereum (ETH) $182.72 (-1.06%)
  • XRP (XRP) $0.290700 (+3.71%)
  • Bitcoin Cash (BCH) $225.65 (-0.67%)
  • Litecoin (LTC) $56.57 (-1.65%)
  • Bitcoin (BTC) $8,292.75 (-1.81%)
Oct 14, 2019 (Monday)
BMW, Ford, GM and others working on proof of concept for blockchain-based vehicle identity system
Crypto Technicals: Major Cryptocurrency Support Resistance Levels
Crypto Technicals: Major Cryptocurrency Daily Technical Outlook
Crypto Technicals: LTC/USD finds stiff resistance at 21-EMA (58.62), breakout confirms further upside
G7 says global stablecoins like Libra pose threat to financial stability: Report
Global stablecoins could become systemically important: Financial Stability Board Chair
Crypto Technicals: Ripple (XRP) spikes higher, hits 4-week high (0.29369), bias bullish
Crypto Technicals: ETH/USD consolidates above 200H SMA, intraday bias turning bullish
U.S. IRS wants to know your crypto ownership in updated income tax form
U.S. SEC, CFTC, FinCEN issue rare statement warning crypto users to abide banking laws
Crypto Valley Association joins International Digital Asset Exchange Association
Crypto Technicals: BTC/USD extends sideways above 200H SMA support (8277), weakness likely on break below
tZERO and Box Digital-owned firm files with SEC to launch regulated security token market
Blockchain trade finance network Marco Polo pilots first trade transactions between Russia and Germany
Crypto exchange Coinbase secures e-money license from Central Bank of Ireland
World Federation of Exchanges urges UK FCA not to ban sale of crypto derivatives to retail investors
Telegram may postpone Gram token launch after SEC stops U.S. crypto sale
Mastercard, Visa, eBay, Stripe, Mercado Pago abandon Facebook-led Libra Association
Oct 11, 2019 (Friday)
Crypto Technicals: Major Cryptocurrency Daily Technical Outlook
Crypto Technicals: Major Cryptocurrency Support Resistance Levels
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.