Michael Konikoff and Ben Kessler walk through the benefits and features of KABN, A NEO Financial Services Platform that starts with Biometric enabled Blockchain Validated Identity, empowering digital currency holders and KABN cardholders alike to spend wherever Visa is accepted
The KABN Network is an integrated suite of financial services that includes:
1. The Pegasus Flyte Visa Card, an approved crypto-linked prepaid Visa card and mobile integrated multi-currency banking wallet;
2. KABN KASH, a robust loyalty and engagement program and
3. KABN ID (The network anchor), a patent pending, Always On, GDPR complaint, blockchain and biometrically based, identity verification and validation platform. KABN ID is a free to use service for consumers that provides continuous monitoring and proof of identity online and in conventional marketplaces.
THE PROBLEM KABN SOLVES
As cryptocurrencies and other digital currencies grow globally, there is an ever-increasing need to convert them into traditional currencies (i.e. USD and Euros) for use in traditional spending.
KABN’s integrated suite of products, which has received approval by Visa, solves this major challenge by empowering digital currency holders to spend in-store and online, as well as, access ATMs globally wherever Visa is accepted.
HOW BIG IS THE PROBLEM KABN IS SOLVING?
In the US alone, this type of card volume is expected to grow to over $396B by 2022. Worldwide volume will follow the same trajectory and expected growth is exponential.
KABN’s integrated suite of products consists of:
*Pre-production cart art subject to network approval
FULL DISCLOSURE: KABN is an advertising client of AGORA Internet Relations Corp.
Hong Kong – March 21, 2019 – Blockchain advisory firm AmaZix is pleased to announce its partnership with financial service platform KABN (www.kabn.network). This is the latest in a series of strategic alliances as alternative finance edges ever closer towards mainstream adoption and legitimacy.
Writing the rulebook for blockchain-based identity management
Under the grim undertones of a struggling cryptocurrency market over the past 18 months, the spectacular successes – and subsequent painful shortcomings – of blockchain-based, decentralized and tokenized crowdfunding models have brought several critical issues to the forefront.
Perhaps the most important to the typical investor has been the proof of identity and accreditation processes, which have been wildly inconsistent across different implementations, with little to no assurances to the investor that their personal information and identities are properly safeguarded and compliant with the new rules surrounding GDPR.
Now there is a simple solution that enables investors to complete this verification and accreditation process once, to access opportunities and remain compliant for any jurisdiction. KABN’s biometric identity and whitelist registry verifies KYC and AML data, sharing it with relevant counterparties while ensuring data and funds are never at risk.
Introducing KABN ID, the one-time verification process for a host of services including token offerings (US Patent pending).
Neo financial services, backed by blockchain validated biometric ID
KABN ID is only one of several components in the larger suite of KABN offerings, which aims to be the full-stack solution for digital assets, fiat transactions and payment methods, including
KABN’s prepaid crypto-linked Visa card and banking wallet. Users, investors and entrepreneurs will have a secure and easy-to-use platform to access, use and spend their digital assets through a crypto-to-fiat transfer process, while verifying biometric ID on the go, ensuring full compliance across a wide range of jurisdictions.
Ben Kessler, KABN CEO, said, “The overwhelming evidence justifies the need for closer scrutiny of processes and regulatory frameworks in token offerings, with the securitization of digital assets believed by many to be the natural progression for the space. It is a direction that AmaZix believes in and is working diligently towards, as demonstrated by their specialized advisory services and their partnership track record. We share their excitement and optimism for the industry’s future and look forward to collaborating.â€
KABN has also partnered with European e-money institution and Visa Principal Member Transact Payments Limited, as well as with global processor GPS and platform tech provider Pannovate to launch the Pegasus Flyte Visa card and Mobile Banking Wallet program in the UK, with plans to expand to the EEA in Q2 2019.
“Programmable regulatory compliance is a built -in feature with digital securities, ensuring the necessary KYC and AML processes are satisfied. But if STOs are to be the way forward, we have to analyze and consider the practical aspects of identity management on the blockchain, particularly with the growing debate surrounding privacy and the protection of personal data in the era of GDPR†said Jonas Karlberg, AmaZix CEO. He added, “And this is where we believe KABN’s solutions for token offering verification are technically appropriate for securing accreditation and will allow for responsible and compliant KYC processes. In addition, its neo financial services like its branded Visa prepaid card and banking wallet will give users an additional aspect that bridges the world of traditional and alternative finance, allowing them to use and spend crypto with more ease.â€
Curious about what AmaZix can do for you?
AmaZix seeks to become the leading provider of blockchain-related advisory and consulting across the globe, driving transformative change to the business paradigm through tokenization, blockchain technology and crowdfunding. We deliver a comprehensive suite of high-value professional services, focusing on innovative services, while continuing to build a team of top-tier talent.
Reach out to us on the following channels:
1. Telegram: https://t.me/amazix
2. Twitter: https://twitter.com/AmaZixOfficial
3. Website: http://www.amazix.com/
4. Facebook: https://www.facebook.com/AmaZixOfficial
5. Reddit: https://www.reddit.com/r/AmaZixOfficial/
About KABN
KABN, an integrated financial service platform offering neo banking type solutions, has received approval by Visa to launch its crypto-linked card and banking wallet program. Branded the Pegasus Flyte Visa card, the KABN card program offers an “on/off ramp†conversion process for a variety of cryptocurrencies to fiat together with multi-currency fiat transactions. Cardholders will be able to use their Pegasus Flyte Visa cards to spend in-store, online, and at ATMs wherever Visa is accepted globally.
The Pegasus Flyte program will also offer a robust loyalty and customer engagement platform. The anchor of the program is KABN ID, a Blockchain and biometrically-based, “Always On†validation and verification process. This patent-pending, GDPR compliant process allows for efficient and frictionless customer acquisition and onboarding. To learn more, please visit: www.kabn.network
SPONSOR: ThreeD Capital Inc. (IDK:CSE) Led by legendary financier, Sheldon Inwentash, ThreeD is a Canadian-based venture capital firm that only invests in best of breed small-cap companies which are both defensible and mass scalable. More than just lip service, Inwentash has financed many of Canada’s biggest small-cap exits. Click Here For More Information.
Gina Clarke Contributor
Blockchain and investment in financial technology continue to grow
It’s a cliché, but true– data is the new oil. That’s one of the many takeaways from a 2018 survey conducted by New Vantage Partners. C-level executives at almost 60 firms (including giants such as Morgan Stanley, GlaxoSmithKline, and IBM) were asked about their views on Big Data. Over 97% of respondents reported deploying Big Data or AI solutions to achieve objectives such as improved analytics and decision-making, cost reduction, and shorter time to market.
Fortune 1000 companies are not the only ones taking advantage of savvy data deployment. Small businesses are also using databases to manage inventory and cash flow, market to customers, and carry out countless other tasks.
With most businesses reliant on databases, staying ahead of the data-technology curve has become a central issue for executives. According to the New Vantage study, almost 80% of executives surveyed expressed concern about disruption or displacement from competitors due to data-technology advantages. And well over half identified inability to compete on data, lack of agility, and data-driven competitors as the primary data-related threats to their organization.
The promise of blockchain
Most people don’t think of data management when they hear the word “blockchain.†The word tends to evoke cryptocurrencies and Bitcoin’s attention-grabbing price swings. However, blockchain technology is currently being adopted at all levels of the business environment.
Blockchain solutions are showing up in the fields of utilities, healthcare, payments, supply-chain management, government, agriculture, and more. A mid-2018 PwC survey found that fully 84% of responding companies actively used blockchain, in areas such as research programs and live deployment.
That’s why investment in the field is still at an all-time high by private investment funds like the New Global Capital Investor Fund, founded in 2017 and still one of the largest institutional investors of blockchain technologies. They have been a key contributor to a number of leading projects including Zilliqa, Ontology, NKN, Oasis, Mainframe, Certik, Bluzelle, and Iotex.
Roger Lim, Founding Partner at NGC said, “We’ve been concentrating on low hanging fruits in blockchain for a while, anyone who can potentially solve a problem. But now we’re interested to hear from good projects where the total metrics make sense, the team makes sense and they have a great strategy.â€
Right now, forty per cent of investment in blockchain by NGC is heading to Greater China where blockchain is booming, but they are still open to all with a good idea. Open to lending from as little as $200,000 to $10million, the company wants to spread the word that there are still great funding opportunities out there. Lim added, “We go off to where the talent is, not just because it’s in Silicon Valley, we don’t portion off our funds. We look globally and we go after the talent.â€
Profile rising fast, but not enough
Despite the interest of investors, blockchain is still relatively young in the mainstream market and actual deployment of blockchain solutions is not yet widespread. This relatively young technology has come a long way since its inception in 2008, but only about a quarter of the companies PwC surveyed had up-and-running blockchain projects.
Though blockchain’s profile is rising fast, the technical expertise needed to create blockchain platforms and smart contracts is still hard to come by in enterprise business settings. Travis Reeder, CTO of blockchain firm GoChain, sees this lack of expertise as a significant obstacle.
He said, “If you’re an IBM or a JP Morgan, you might have the resources to develop the kind of in-house expertise needed to compete with the startups going after your industry in Silicon Valley. But there’s a huge group of companies who can’t just set up a dedicated blockchain division. These businesses understand what blockchain could do for them, but don’t have access to the tools and knowledge they need to build actual solutions. A lot of companies encounter the related problem that there are many options to choose from, but they don’t know which to choose or where to start.â€
Now Reeder hopes to remove obstacles to participation in the blockchain revolution by investing in widespread knowledge. They offer partner companies blockchain-based training, workshops, platform design, and other services. Their aim is to provide the human capital that is as essential to the technology’s success as the technical infrastructure. These cost-effective consulting services are popular for companies to develop and maintain tailor-made blockchain business strategies and tools. With their own public blockchain that anyone can use to build smart contracts and applications, as well as GoChain private installation, it allows for all possibilities.
Still, a few common concerns when it comes to blockchain are slow transactions and vast amounts of energy needed, but with 1300 transactions per second GoChain is certainly holding its own against the big guns. It’s 100 times faster than Ethereum for example.
A market for loans
And while the money is flowing freely into the blockchain, there are also possibilities to dole it out from firms such as Forest Park Advisors. They are creating the first tradeable syndicated loan market via security token issuances. The firm is the brainchild of Steve Shaw, investment manager at Clear Harbor Asset Management, who was previously a managing director at Credit Suisse First Boston, co-heading the firm’s trading and distribution franchise. Steve originated some of the earliest Credit Default Swaps at Credit Suisse product prior to the recession. Combined with the rest of the team, Forest Park Advisors has over 60 years of Wall Street experience and are intent on using their decades of experience to issue the first generation of real estate backed structured debt security tokens. With up to $200million for a single loan, this is a wealthy market.
If the public could be convinced, then there are plenty of opportunities to spread the wealth.
See more on what I’m writing here or say hi on Twitter @ginadav
Source: https://www.forbes.com/sites/ginaclarke/2019/03/20/follow-the-money-why-investment-in-blockchain-has-never-been-higher/#3af5933053fc
SPONSOR: KABN, A NEO Financial Services Platform that starts with Biometric enabled Blockchain Validated Identity, empowering digital currency holders and KABN cardholders alike to spend wherever Visa is accepted. Learn More
It appears that Visa is getting into the cryptocurrency game, after many years of discussion about how cryptocurrency would render Visa obsolete.
The payments processing giant listed a new job opportunity titled “Technical Project Manager, Visa Fintechâ€, and the listing does not hide its intention that it has to do with cryptocurrencies.
The listing reads
Are you passionate about the intersection of payments and cryptocurrency? Are you deeply familiar with permissionless blockchain technology and have a close network of experts in the fast moving cryptocurrency and fintech ecosystem? Are you excited about the challenge of developing new products for Visa to deliver value to fintechs looking to support cryptocurrencies?
Visa would like the hired candidate to outline a crypto strategy and roadmap and, working with the Visa Research team, develop new products.
The job listing refers to the impact of crypto on payments:
This highly motivated individual will be responsible for managing a product roadmap and collaborating with key stakeholders across…will [also] work in close collaboration with the Visa Research team to develop new products to deliver value to fintechs and Visa. This person should…anticipate how cryptocurrencies could impact payments.
Visa CEO Alfred F. Kelly Jr. has previously been somewhat dismissive of cryptocurrencies, saying that Visa will not process Bitcoin transactions:
We at Visa won’t process transactions that are cryptocurrency-based. We will only process fiat currency-based transactions, Visa CEO Alfred F. Kelly Jr. said in January 2018
Visa joins some major established players like JP Morgan Chase in entering the crypto space. The list established entities joining crypto has grown in recent times with IBM working with 6 international banks, allowing them to launch their own stablecoins on its World Wire product, while Facebook is reportedly working on a crypto asset that will integrate with WhatsApp.
While Visa’s decision to enter cryptocurrency may invoke ridicule or distrust from the crypto community, given how crypto competes directly with the payments processor, the fact that Visa is even considering cryptocurrencies shows how persuasive the technology’s capabilities are, especially if a large entity such as Visa is entering the space.
Source: https://www.investinblockchain.com/visa-to-open-crypto-division/
United Kingdom / Gibraltar / Canada – March 14, 2019 –
Tokenise, a London based, FCA regulated leader in the creation and crowdfunding of tokenised securities, is pleased to announce that KABN (Gibraltar) Limited will be the first client to launch on its platform to sell equity tokens, representing shares in the company. KABN is a global financial services platform that has developed, among its suite of financial services products, a patent pending, blockchain based, GDPR compliant, ‘Always On’, global identification, KYC and AML support service for investors and clients. KABN will also be providing its services to Tokenise and its partners and participants.
Tokenisation of securities and other assets will transform the efficiency of capital markets. Removing inefficiencies, friction and barriers to participation will democratise the process of matching issuers and consumers of risk capital. This in turn will increase the flow of funds and investment opportunities for market participants. Tokenise intends to provide innovative capital market solutions for the SME sector with frictionless access to a global investor base.
KABN, a financial service platform offering neo banking type solutions, has received approval by Visa to launch its crypto-linked card and banking wallet program. KABN has partnered with European e-money institution Transact Payments Ltd, global processor GPS and platform technology provider Pannovate, to launch the program in the UK and subsequently the EU in the 2nd quarter of 2019.
Called the Pegasus Flyte Visa card, the KABN card program offers an “on/off ramp†conversion process for a variety of cryptocurrencies to fiat, together with multi-currency fiat transactions. Cardholders will be able to use their Pegasus Flyte Visa card to spend in-store, online, and at ATMs wherever Visa is accepted globally.
The Pegasus Flyte program will also offer a robust loyalty and customer engagement platform. The anchor of the program is KABN ID, a Blockchain and biometrically-based, “Always On†validation and verification process. This patent-pending, GDPR compliant process allows for efficient and frictionless customer acquisition and onboarding.
Mike Kessler (CEO of Tokenise) said “Tokenise is delighted that KABN has chosen to issue its equity token through our platform. Not only does this endorse the Tokenise model, it will also be amongst the first issuance of an equity token on a global basis, paving the way for the emergence of a new future in tokenised securities.â€
Expected to launch on the Tokenise platform in April, the KABN Token (www.kabntoken.com) will allow the Tokenise community to purchase equity tokens representing preference shares in KABN. All investors that qualify as per the regulations will be eligible to participate in the equity token sale.
“We are excited to be partnering with Tokenise for both our crowdfunding equity token sale and for our services platform,†said Michael Konikoff, Chief Revenue Officer KABN. “The KABN Token represents an effective way for our stakeholders to participate in our success and benefit from the potential opportunity and liquidity that the Tokenise platform intends to provide to investors.â€
For more information, please contact:
For Tokenise:
Mike Kessler, CEO
www.tokenise.io
[email protected]
For KABN:
Michael Konikoff, CRO
www.kabn.network
[email protected]
Tokenise is launching KABN’s equity token issuance through its UK crowdfunding platform
Tokenise: a London based, FCA regulated leader in the creation and crowdfunding of tokenised securities
KABN: a financial service platform offering neo banking type solutions
Tokenise
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Ripple has announced that it will launch a $100 million fund in collaboration with Forte, a San Francisco-based startup that is aiming to leverage the economic models of blockchain systems to build better economies and marketplaces in the gaming industry.
Forte will oversee the fund that will be allocated towards the integration of blockchain technology with in-game markets that will allow players to make transactions with each other more conveniently. In the past, users have often moved to third-party platforms to sell in-game items.
Speaking to Fortune, Ethan Beard, a senior executive at Ripple’s development division Xpring, is hopeful about blockchain making gaming economies more equitable:
Video games have long been quick to adopt new technology, from console to the PC to mobile. Now, blockchain will help game designers who’ve had a hard time facilitating an economy that can serve all types of players.
As the Fortune article notes, this is an expansion for Ripple, which have previously made a lot of progress in the cross-border payments niche. Should game developers get on board, the use of Ripple’s Interledger Protocol and the XRP token would give Ripple an enormous amount of exposure.
Forte was founded by Kevin Chou, an entrepreneur with experience in the gaming space. Chou was the Chief Executive Officer of mobile-focused Kabam and esports company Gen.G. Forte is backed by the likes of Andreesen Horowitz, Coinbase Ventures and Battery Ventures.
In Chou’s announcement post, he said of the direct interactions between stakeholders in the system:
I envision a future where players can transact with each other directly instead of only with the developer. A future where developers don’t need to figure out the maximum value they can extract from their player base, but instead are creatively and economically motivated to foster new types of peer-to-peer gameplay.
Blockchain in gaming is not a new idea.
Several projects and initiatives have been undertaken already, including the Enjin token (ENJ), which will be available on the Samsung Galaxy S10, and TRON’s $100 million funding for the gaming industry.
Source: https://www.investinblockchain.com/ripple-forte-100m-fund-integrate-blockchain-with-gaming/
SPONSOR: ThreeD Capital Inc. (IDK:CSE) Led by legendary financier, Sheldon Inwentash, ThreeD is a Canadian-based venture capital firm that only invests in best of breed small-cap companies which are both defensible and mass scalable. More than just lip service, Inwentash has financed many of Canada’s biggest small-cap exits. Click Here For More Information.
Kakao first revealed its plan to set up a blockchain subsidiary back in March 2018, soon after confirming that it had launched Ground X to develop a blockchain-powered platform as a foundation for application developers. Kakao’s top execs said at the time that the plan was to integrate future blockchain-based services with Kakao’s existing internet offerings, such as the Kakao Talk messaging app.
Ground X launched a test network (or testnet) for its proprietary blockchain network, dubbed Klaytn, last autumn. It has already partnered with 26 companies that aim to run apps on Klaytn, Han told Bloomberg. These include South Korean video game developer Wemade and video streaming platform Watcha, as well as a unit of Chinese travel agency Zanadu.
The subsidiary has also said it will work with the Seoul Digital Foundation, an organization created by the Seoul Metropolitan Government, to develop blockchain projects focusing on social and public services.
Ground X could be summed up as “partial or gradual decentralization,†Han told CoinDesk Korea last year, adding that some of Kakao’s services could be decentralized.
He added:
“The token economy is a business model that no one could have imagined before. Until now, Kakao has only operated in Korea, but through blockchain we could expand into the global market. That means taking a portion of the profits we earn as an intermediary and using it to expand our market by sharing it with users.â€
Jason Han image via CoinDesk archives
Source: https://www.coindesk.com/kakaos-blockchain-arm-raises-90-million-in-private-token-sale
TORONTO & SAINT MICHAEL, Barbados & GIBRALTAR — Polymath (www.polymath.network), the global leader in software solutions that enable assets to be digitized, distributed, fractionally owned, and ultimately liquidated, has formed a consortium in close collaboration with KABN (www.kabn.network), a global financial services platform that has developed, among its suite of products, a patent pending, blockchain based, GDPR compliant, Always On, global identification and accreditation as a support service for investors and other types of contributors.
Polymath is leading the effort to make it easier for organizations to create digital securities from traditional assets through partnerships and a community that supports a transparent and compliant process for issuers and investors. Through its extensive service provider network with firms like KABN, Polymath provides security token issuers with access to top quality service providers.
“Our solution supports the creation of digital securities from a wide range of traditional and non-traditional assets,†said Kevin North, CEO of Polymath. “The intention of this partnership is to create a best practice model for customers who need help with the full lifecycle of an STO (Security Token Offering). In this model, the issuer would work with an integrated network of providers who are committed to ensuring that offerings are compliant with securities laws, rules, and regulations across multiple jurisdictions and trading platforms, increasing the value proposition by reducing the distance and friction between investors and issuers. To date, the full STO path is not clear for most of our issuers, so we formed this partnership with the intention of making this a less daunting journey.â€
KABN will also be the first organization to launch its digital securities offering using this process. More information about the KABN Security Token Offering can be found at: www.KABNtoken.com
“Working with Polymath, KABN supports the compliance requirements for digital securities with its Always On solution providing a faster, better and more economical solution for issuers and investors to validate and verify identity, KYC and AML, and manage liquidity programs,†said Ben Kessler, CEO of KABN. “KABN is also the first company to tokenize its company assets and create digital securities with this process, proving the model and paving the way for others to do the same in a manner that meets jurisdictional securities rules and regulations and supports a value proposition for stakeholders, the Blockchain community, issuers and investors.â€
Polymath and KABN are receiving overwhelming support from the capital markets and blockchain communities as it introduces the framework to program partners to advance the creation of digital securities and make it easier for issuers and investors to interact through decentralized platforms globally.
Together with Pegasus Fintech (Gibraltar) Limited, a consultant organization, a consortium of Professional Service providers, Broker Dealers, Blockchain Developers, Exchanges, Authorized Agents and other Solution Providers have committed to supporting this process and the KABN Token offering. The initial parties committing their support to this growing consortium include:
| Tokenise.io (UK) | Global Blockchain Network (US) |
| MLG Blockchain (Canada) | Evoke Capital (Canada) |
| Hyperion Technologies (US) | Secure Digital Markets (Canada) |
| Hassans (Gibraltar) | Digital Assets Management (Gibraltar) |
| Crypto SA (Australia) | KABN (Gibraltar) |
| Ten Capital (US) | Polymath (Canada/Barbados) |
| Razlin Capital (UK) |
About Polymath (www.polymath.network)
Polymath Network (Polymath) is a decentralized platform that makes it easy to create security tokens. The platform simplifies the complex technical challenges of creating a security token and aims to bring the multi-trillion dollar financial securities market to the blockchain.
About KABN (www.kabn.network)
KABN, a integrated financial service platform offering neo banking type solutions, has received approval by Visa to launch its crypto-linked card and banking wallet program. KABN has partnered with Transact Payments Ltd, a European e-money institution and Principal Member of Visa, global processor GPS and platform technology provider Panovate to launch the program in the UK and subsequently the EEA in the 2nd quarter of the year.
Branded the Pegasus Flyte Visa card, the KABN card program offers an “on/off ramp†conversion process for a variety of cryptocurrencies to fiat together with multi-currency fiat transactions. Cardholders will be able to use their Pegasus Flyte Visa cards to spend in-store, online, and at ATMs wherever Visa is accepted globally.
The Pegasus Flyte program will also offer a robust loyalty and customer engagement platform. The anchor of the program is KABN ID, a Blockchain and biometrically-based, “Always On†validation and verification process. This patent-pending, GDPR compliant process allows for efficient and frictionless customer acquisition and onboarding.
About Pegasus Fintech (www.pegasusfintech.com)
Pegasus Fintech is a full-service Blockchain, technology and accelerator growth advisory that supports regulatory compliant programs and offerings.
Forward-Looking Statements: Except for historical matters contained herein, statements made in this press release are forward-looking statements. Without limiting the generality of the foregoing, words such as “mayâ€, “willâ€, “toâ€, “planâ€, “expectâ€, “believeâ€, “anticipateâ€, “intendâ€, “couldâ€, “wouldâ€, “estimateâ€, or “continueâ€, or the negative other variations thereof or comparable terminology are intended to identify forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Also, forward-looking statements represent our management’s beliefs and assumptions only as of the date hereof. Except as required by law, we assume no obligation to update these forward-looking statements publicly, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.
Contacts
For more information:
Polymath
RJ Reiser, CGO
[email protected]
KABN
Ben Kessler, CEO
[email protected]
SPONSOR: ThreeD Capital Inc. (IDK:CSE) Led by legendary financier, Sheldon Inwentash, ThreeD is a Canadian-based venture capital firm that only invests in best of breed small-cap companies which are both defensible and mass scalable. More than just lip service, Inwentash has financed many of Canada’s biggest small-cap exits. Click Here For More Information.
Kakao Corp., the parent company of a South Korean messaging app KakaoTalk, raised $90 million in a private coin offering for its upcoming blockchain platform, as reported by Bloomberg. The company is planning to have another round, similar in size, in March. IDG Capital, Crescendo Equity Partners and Translink Capital participated in the round, per Bloomberg.
The blockchain platform dubbed Klaytn, which is planned to launch in June, will start with popular third-party services such as games and travel apps but eventually could support some messaging features of KakaoTalk. Klaytn already has 26 partnerships lined up with apps that already have millions of daily active users. The platform aspires to attract a user base of 10 million accounts within the first year.
Source: https://www.theblockcrypto.com/tiny/kakao-corp-raises-90m-for-its-blockchain-platform/