OKEx Joins Kakao Corporation Backed Klaytn Blockchain Project as Ecosystem Partner

One of the leading digital asset exchanges in the world, OKEx has joined forces with Klaytn – a global public blockchain project as an Ecosystem Partner. As a part of the partnership, OKEx will be working closely with other partners in the Kakao Corporation backed blockchain project.

The Klaytn blockchain platform is an enterprise-grade, service-centric blockchain platform offering the best of both public and private chains through an efficient hybrid structure.

With a strong foothold in the cryptocurrency industry, OKEx is a logical choice for partnership in order to promote mass adoption of the Klaytn blockchain environment, as the platform currently has a userbase consisting of millions of users spread across more than 100 countries across the world. Meanwhile, Kakao Corporation is one of the major South Korean internet companies known for KakaoTalk mobile instant messaging application which is estimated to have over 220 million registered users.

The Klaytn blockchain project has a strong network of partners in the form of a Governance Council, Ecosystem Partners, Initial Service Partners, KLAY BApp (Blockchain Application) Partners and Investors. In addition to OKEx, other Ecosystem Partners at Klaytn include Samsung Blockchain, IDG Capital, Shinhan Bank and others, states the company’s recent news release.

Regarding the partnership with OKEx, the Head of Business at Ground X Chase Choi said, “We are delighted to welcome the global top exchange OKEx to join Klaytn… As Asia’s no.1 blockchain platform, we will further solidify and expand our ecosystem together with OKEx.”

According to OKEx, as an Ecosystem Partner, the company will be contributing towards the development of a stable blockchain ecosystem and connect to different networks and portfolios in the blockchain space. Excited to be part of the new initiative, the OKEx team is looking forward to extending its support to probe the blockchain adoption around the globe. In the words of Andy Cheung, Head of Operations at OKEx,

“We are excited to participate in this new initiative by Klaytn. We have strong faith to the team and the blockchain technology developed upon solid reliability and significant stability… Exchanges and projects itself should work together to define and adopt standards that will promote digital asset adoption globally. At OKEx, we are always keen to work with market players in expanding the market and bring in quality projects in accordance with market needs, and I believe this indicates a good start.”

As Klaytn works on creating a reliable blockchain-based business platform for enterprise customers, OKEx is currently in the process of bringing together forces in the cryptocurrency industry to create a global self-regulatory organization (SRO) which will help create universal operational standards for exchanges and trading platforms dealing with digital assets. It is to be seen how these new developments will affect the adoption of cryptocurrency and blockchain applications among the masses.