Internet giant Kakao will push blockchain services to Singapore

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Kakao, an internet giant Korean company, will show its significant presence through their two subsidiaries in Singapore. Kakao aimed to bring huge competition in the blockchain industry.

With the Increase in the age of the crypto market, blockchain adoption is also increasing at tremendous levels. Singapore’s regulators authorities are now giving licenses to the crypto services/companies so that they can run their business with full legal procedure. Kakao will now boost their services in Singapore.

Kakao is a Korean company. This company has two arms namely the Klatyn Foundation and Krust. The Klatyn Foundation is a blockchain based non profitable organisation. And Klatyn will work to boost the blockchain based services acceleration globally. 

According to a report by The Korea Herald, Kakao company will use its both entities to boost & push their Klatyn blockchain project in Singapore. 

In the initial phase of progress in August, Kakao said that they will do their work with better systematic procedures to expand their Klatyn network. 

“We will actively invest our human as well as financial resources in developers and businesses of the blockchain world to accelerate the growth of our ecosystem and the development of our technology”

Kakao company is ready with around $300 million reserved fund for their development & maintenance work in Singapore. 

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