Korean internet giant Kakao expands blockchain presence to Singapore

Singapore is reportedly the next port of call for Kakao’s globalization agenda for its legacy blockchain platform Klaytn. According to a report by The Korea Herald on Monday, Kakao has established two new blockchain-based entities — the Klaytn Foundation and Krust — in the city-state. The Klaytn Foundation is a nonprofit organization, while Krust serves as a global accelerator for blockchain technology adoption. Kakao plans to use both entities to foster broad-based penetration of its Klaytn blockchain project in Singapore. Stating its mission during the launch earlier in August, the Kakao Foundation said that it would work “proactively and systematically” to expand the Klaytn network.