A key partnership has been struck between Klaytn Foundation and GMO Internet Group. This is important from the perspective of expanding the reach of blockchain to new areas and business domains. The Klaytn Foundation is a Singapore-based non-profit organization dedicated to boosting the Klaytn blockchain ecosystem’s long-term global expansion. Klaytn is a service-oriented blockchain platform that promises to deliver a user-friendly development environment and blockchain experiences. Klaytn is a well-known name in the category of enterprise-grade blockchain platforms and its coming together with Japanese conglomerate GMO will definitely bring more growth opportunities for both organizations.
GMO is expanding at a very fast pace and this new collaboration with Klaytn is part of its strategy 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, payment gateways, and cryptocurrency exchanges. In addition, GMO is also behind the issuance of stablecoins ZUSD and GYEN which are pegged to USD and JPY respectively. It is important to note that GMO has developed all these product platforms internally and the company is proud of its capabilities to come up with such advanced technologies for its user base.
Klaytn, on the other hand, 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 before these are launched on a full commercialized scale. Klaytn foundation conducts all these activities with the help of the $500 million funds the foundation has earmarked for helping the blockchain ecosystem to grow at a desirable place.