Kakao Eyes DeFi, Wants To Build Crypto Trading Ecosystem

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Kakao revealed that their goal is to build an ecosystem for digital asset trading, and they are starting to keep an eye on DeFi.

Kakao said it wants to join the DeFi room for digital asset trading. The comments were made by Ground X, Kakao ‘s blockchain subsidiary, which runs the KakaoTalk chat app that is used by approximately 44 million South Koreans. The business empire includes an e-pay and banking platform and a newly launched crypto wallet, a Klaythn blockchain network, and even a Klay crypto-asset that can be exchanged.

Lee Yoon-ho, head of Ground X company, spoke at a Fintech seminar hosted by the Korea Internet and Security Agency and said:

“Our vision with Klaytn is to create a circular ecosystem where digital assets are held and traded.”

Lee indicated that the Klaytn platform was looking to broaden its DeFi-related interests, which indicates that Defi is looking at Kakao and wants to get on the lucrative decentralized finance train. Lee replied:

“DeFi can contribute to the implementation [of the ecosystem]. I believe that the assets issued in the DeFi ecosystem can secure user trust and become practical with real-world usages as the frequency and volume of transactions increases on a global scale.”

Biến động thị trường đang chỉ ra những điểm yếu lớn trong cấu trúc Defi

The Klatyn executive added that the key to expanding the DeFi market is to acquire belief. He commented that in the payments, loans, and exchange markets, DeFi and decentralized crypto exchanges have a tremendous potential to outperform centralized services.

Klip was published at the beginning of the year and connects directly to the KakaoTalk chat app. As we can now see, this wallet is compatible with the native coin of its Klaytn blockchain network, the Kakao-issued Klay token.

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