With over 700 million combined users of Klaytn’s 51 service partners and 23 Governance Council members, Klaytn has secured the world’s largest user base for a single blockchain platform. #BreakingNews

Pledgecamp has been selected by Klaytn as one of its Initial Service Partners (ISP). Klaytn is the new global blockchain initiative of South Korea’s leading mobile platform Kakao. Kakao operates KakaoTalk, which reaches 220 million users worldwide and 93% of South Korean smartphone users.

Image courtesy of Yahoo Finance News

Developed by Kakao’s blockchain subsidiary arm, Ground X, and led by CEO Jason Han (former CTO of FuturePlay), Klaytn aims to provide a world-class user experience to millions of people. Recently, Kakao has raised US$90 million in a private coin offering in order to fund development and research activities in Ground X.

Disclosure: FuturePlay is the sister company of FoundationX (http://foundationx.io/) , an early investor and accelerator of Pledgecamp.

Ground X’s CEO Jason Han wants to onboard 10 million user accounts onto Klaytn within its first year. To do this, Klatyn plans to leverage the massive user base of Kakao’s mobile messaging app KakaoTalk.

Kakao Talk has over 50 million monthly active users worldwide, with about 44 million in South Korea. In terms of penetration, KakaoTalk can be compared to China’s leading chat platform WeChat, which has 1 billion monthly active uses and close to 90% market penetration.

“Kakao has already shown significant prowess in the blockchain industry. Dunamu Inc, a FinTech company of which Kakao is a majority shareholder, operates the crypto-currency exchange Upbit along with US-based Bittrex. Launched on 24th Oct, 2017, Upbit is South Korea’s largest crypto-currency exchange by volume today. In Dec, 2018, Upbit became the world’s first crypto exchange to receive certifications from the Korea Internet & Security Agency and the International Organization for Standardization, for information security, cloud security and cloud privacy. Recently, they have expanded their operations to Singapore and Indonesia too.