PeerTec, a blockchain financial technology company, said on Wednesday that it has signed a partnership with Kakao’s blockchain project “Klaytn” and a memorandum of understanding.
Through the cooperation, the two companies will lead the popularization of blockchain technology. While PeerTec will support the Klaytn platform, which operates under Kakao’s blockchain subsidiary, GroundX.
In addition, the Klaytn-based blockchain project will be able to list its own virtual assets to GDAC. It is a virtual asset operator run by PeerTec, the company expected.
How this partnership will work for both Klaytn and PeerTec
When Klaytn’s mainnet released in June, Klaytn’s partners are converting their existing BSP to Klaytn. Klaytn has about 60 non-app partners and will continue to grow.
Through a partnership with Klaytn, GDAC will support selective fast-track listing and swapping of KCT-based tokens.
Currently, major domestic and foreign exchanges such as Upbit Indonesia, Bittrex, OKX and CoinWon support Klaytn-based Token (KCT).
“We will make full use of PeerTec’s technology to expand blockchain ecosystem with Klaytn,” said Lee Yoo-ri, director of PeerTec. “We will make significant blockchain use cases in the future through this partnership.”
Choi Yong-ho, head of GroundX’s business division, said the company will lead blockchain popularization through a partnership with PeerTec and also discuss ways to make blockchain technology available in more diverse areas.
PeerTec is a blockchain financial technology company that provides digital asset trading and signing engine, digital asset management, custody and B2B payment infrastructure technology. On October 17, it launched ‘PeerPay’, which is a blockchain and digital asset payment infrastructure.
Previously, Klaytn has joined partnerships with many companies from both inside and outside of South Korea. The companies joined Klaytn Governance Council, which will manage the Klaytn project by Kakao Corp. The last company and might as well the biggest one joining the governance council is Binance.
