Klaytn will partner GMO Internet Group, a Japanese internet and financial conglomerate, to explore blockchain business synergies on Klaytn
Partnership
GMO’s latest move is a continuation of the conglomerate’s global expansion in internet infrastructure, financial services, e-commerce, payments, and cryptocurrency business segments. It currently operates online FX trading platform and brokerage, internet bank, the payment gateway businesses and cryptocurrency exchanges. GMO is the issuer of stablecoins GYEN and ZUSD which are pegged to JPY and USD respectively. GMO takes pride in building all of its products internally and has a deep expertise in blockchain based product development.
Klaytn has the backing of the Klaytn foundation that is based in Singapore and support operational strategies of the Klaytn blockchain platform. The foundation extends its support in terms of conducting the feasibility study for the various blockchain products. It’s important before these are launched on a full commercialized scale. Foundation conducts all these activities with the help of the $500 million funds. This amount has earmarked for helping the blockchain ecosystem to grow at a desirable place.
GMO is expanding at a very fast pace and this new collaboration with Klaytn is part of its strategy. The goal is to expedite its development of internet infrastructure and financial services. The organization is currently involved in offering a variety of services including an online forex trading platform. As well as payment gateways and cryptocurrency exchanges.
Quotes
“GMO will utilize the blockchain technology know-hows we have accumulated so far and will look to further expand the possibilities of blockchain technology through the partnership,” says Ken Nakamura, chair of cryptocurrency business committee at GMO Internet Group.
“The partnership of the largest internet company in Japan with one of the largest tech companies in Korea is one that encompasses a shared commitment to building new and open digital economies, and offering a digital corridor to both marketplaces through the Klaytn blockchain,” says David Shin, head of global adoption at Klaytn Foundation.
