GMO Internet Group, a Japan-based Internet service provider. announced that it will partner with the Klaytn Foundation to explore blockchain activities on Klaytn, a blockchain initiative of Kakao Group.
This latest move is a continuation of the conglomerate’s expansion into the internet infrastructure, financial services, e-commerce, payments and cryptocurrency sectors. GMO Internet Group currently operates an online FX trading platform, internet bank, payment gateway businesses, cryptocurrency exchanges and is the issuer of GYEN and ZUSD stablecoins which are pegged to JPY and USD .
The Klaytn Foundation is a Singapore-based non-profit entity that supports the Klaytn blockchain ecosystem by accelerating Klaytn’s sustainable global growth. Klaytn is a service-centric blockchain platform that aims to provide an intuitive development environment and blockchain-friendly experiences.
“Japan’s largest Internet company’s partnership with one of Korea’s largest tech companies is one that encompasses a shared commitment to building new, open digital economies and providing a digital corridor to both markets through the Klaytn blockchain. .
– David Shin, Head of Global Adoption at the Klaytn Foundation
The Klaytn Foundation supports partners through various resources to test the feasibility of blockchain ventures. One way to do this is through the management of the US$500 million Klaytn Growth Fund, which supports ecosystem players through various capital deployments.
“GMO Internet Group will utilize the blockchain technology know-how we have accumulated so far and seek to further expand the possibilities of blockchain technology through the partnership.”
– Ken Nakamura, Chairman of the Crypto Works Council at GMO Internet Group
