Kakao Is Ready to Take Singapore Over
Kakao, a blockchain mogul from Korea, has ambitious plans to take over the Singaporian market with their Klaytn platform. As reported by Korea Herald, the company has already located two of its entities there, a non-profit Klaytn Foundation and Krust, a blockchain adoption accelerator.
These entities will help integrate Klaytn into the Singaporean economy. The expansion started in August, being backed by a solid $300 million targeted solely on development in this region. This fund also includes the assets for the improvement of their service.
Kakao, being an active enthusiast for blockchain adoption, also applied to work together with the South Korean central bank on a national digital currency. The bank will choose a partner among multiple applicants this month. Kakao is definitely bullish on blockchain, and their purpose is not Singapore only but the entire Asian Pacific market.