Binance Joins Kakao’s Global Blockchain Council for Klaytn Project

Binance Joins Kakao’s Global Blockchain Council for Klaytn Project
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Klaytn, a South Korean internet giant Kakao-led blockchain project, announced that Binance, world’s largest cryptocurrency exchange and global blockchain ecosystem, is joining its governance council to participate in the project’s vision to bring mass blockchain adoption globally.

Klaytn Governance Council is an alliance of multinational businesses and organizations, responsible for operating the consensus node network and driving the ecosystem growth, says its website.

According to the press release, Binance joins the Klaytn Governing Council together with 25 leading enterprises, including LG Electronics, Union Bank of the Philippines, Celltrion, and recently joined, AhnLab and Yeahmobi.

Ground X is the blockchain subsidiary of Korea’s largest mobile platform, Kakao, with over 50 million monthly users. It launched the mainnet of its public blockchain platform Klaytn June27, 2019, hoping to drive the blockchain adoption in South Korea. According to the website of Ground X, Klaytn provides user-friendly UX/UI and enterprise-friendly Developer Experience (DX) environment for developers to create blockchain services.

The Klaytn project raised nearly $300 million in two different initial coin offering (ICO) rounds earlier this year. On October 18, 8 new services partners joined the Klaytn network making a total of 47 service partners at that time. The companies who joined the network on October 18 include STARnet, 0.8 Liter, Good Morning, Dkargo, Loon Lab, Monopoly,, and Tune Token.

Jason Han, CEO of Ground X, welcoming Binance to the project, stated:

We are excited to welcome the world’s leading exchange Binance to our Governance Council. We look forward to further strengthening the Governance Council as we continue to invite leading companies in various industry domains to join, and together with our Council members, we will work towards driving mainstream adoption of blockchain.”

Wei Zhou, chief financial officer at Binance, stated:

Ground X and its public blockchain project Klaytn share a mutual vision with Binance in fostering and stimulating sustainable growth in the industry and to bring meaningful use cases. We are excited to join the Klaytn Governance Council and to work with other key partners like LG Electronics and Kakao, who are the most innovative companies Asia, to foster the growth of the global blockchain ecosystem in this joint and open effort.”


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