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April

Klaytn

<a href="https://bitcoinworld.co.in/south-korean-tech-giants-naver-and-kakao-aim-to-launch-their-token-in-june/" title="South Korean Tech Giants Naver And Kakao Aim to Launch Their Token in June" rel="nofollow"></a>
The South Korean tech giants Naver and Kakao are set to finalize their blockchain merger plans with a token launch in June. 
<a href="https://www.newsis.com/view/?id=NISX20240430_0002718958">According</a> to Newsis, the token launch will take place in the UAE under the new brand name Kaia. 
<h3 id="span-style-font-weight-400-naver-kakao-plan-june-token-launch-span">Naver, Kakao Plan June Token Launch</h3> 
Kakao, the operator of the KakaoTalk chat app, is the driving force behind the Klaytn blockchain and its <a href="https://coinstats.app/coins/klay-token/">Klaytn</a> (KLAY) token. 
<figure id="attachment_71882" aria-describedby="caption-attachment-71882" style="width: 100%" class="wp-caption aligncenter">
 <img loading="lazy" decoding="async" class=" wp-image-71882" src="https://bitcoinworld.co.in/wp-content/uploads/Klaytn-Price-Chart-483x300.png" alt="" width="618" height="384" srcset="https://bitcoinworld.co.in/wp-content/uploads/Klaytn-Price-Chart-483x300.png 483w, https://bitcoinworld.co.in/wp-content/uploads/Klaytn-Price-Chart.png 760w" sizes="(max-width: 618px) 100vw, 618px">
 <figcaption id="caption-attachment-71882" class="wp-caption-text">
 Klaytn Price Chart | Source: Coinstats
 </figcaption>
</figure> 
&nbsp; 
Naver is South Korea’s answer to Google. It operates the Finschia (FNSA) <a href="https://coinstats.app/coins/link/">token</a> and blockchain protocol via its Line affiliate. 
<figure id="attachment_71883" aria-describedby="caption-attachment-71883" style="width: 100%" class="wp-caption aligncenter">
 <img loading="lazy" decoding="async" class=" wp-image-71883" src="https://bitcoinworld.co.in/wp-content/uploads/FINSCHIA-Price-Chart-483x300.png" alt="" width="618" height="384" srcset="https://bitcoinworld.co.in/wp-content/uploads/FINSCHIA-Price-Chart-483x300.png 483w, https://bitcoinworld.co.in/wp-content/uploads/FINSCHIA-Price-Chart.png 760w" sizes="(max-width: 618px) 100vw, 618px">
 <figcaption id="caption-attachment-71883" class="wp-caption-text">
 FINSCHIA Price Chart | Source: Coinstats
 </figcaption>
</figure> 
&nbsp; 
Line is also a chat app operator and has a range of blockchain and crypto operations that are mainly active in Japan. 
The firms have been active in the crypto sector for some time, but appear keen to join forces in a bid to create an East Asian crypto behemoth. 
See Also: <a class="row-title" href="https://bitcoinworld.co.in/matera-secures-3-6-million-to-connect-defi-and-social-media/" aria-label="“Matera Secures $3.6 Million to Connect DeFi and Social Media” (Edit)">Matera Secures $3.6 Million to Connect DeFi and Social Media</a> 
In January, the firms announced their intentions to “merge” their blockchain networks. The companies explained: 
“KLAY and FNSA, the native coins of the two blockchains, will be replaced by a new native coin which will be issued based on the combined total amount of KLAY and FNSA.” 
Holders of KLAY and FNSA tokens, they said, “will be able to swap for the new native coin upon issuance.” 
In a press briefing held in Seoul’s Gangnam on April 30, the companies said they had launched “Project Dragon,” a “consultative body” that would oversee and promote the chain integration process. 
The media outlet reported that the tech giant’s “ambition” is “to surpass global layer 1 blockchains such as Ethereum and Solana.” 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 Kakao Entertainment partners with Billboard to expand K-pop's global reach<a href="https://t.co/iqyz9kji7u">https://t.co/iqyz9kji7u</a> 
 — The Korea Times (@koreatimescokr) <a href="https://twitter.com/koreatimescokr/status/1780838675167011163?ref_src=twsrc%5Etfw">April 18, 2024</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
<h3 id="span-style-font-weight-400-asia-s-biggest-blockchain-platform-span">Asia’s Biggest Blockchain Platform?</h3> 
Token launches are still illegal in South Korea since a 2018 ruling banned domestic firms from making initial coin offerings. 
As such, the firms have created an Abu Dhabi-based foundation that will complete the launch “by the end of June.” 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 Tokyo’s unprecedented pressure on Naver over Line data leak threatens bilateral ties<a href="https://t.co/rF0IdWi1AN">https://t.co/rF0IdWi1AN</a> 
 — The Korea Herald 코리아헤럴드 (@TheKoreaHerald) <a href="https://twitter.com/TheKoreaHerald/status/1784736520274112790?ref_src=twsrc%5Etfw">April 29, 2024</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
Seo Sang-min, the Chairman of the Klaytn Foundation, said: 
“The integration project is progressing smoothly and according to plan.” 
The media outlet said the combined market capitalization of the existing Klaytn and Finschia platforms is “approximately $1.1 billion.” 
It added that “once integration is complete,” Kaia was widely “expected to become Asia’s largest blockchain platform.” 
<blockquote>
 Disclaimer: The information provided is not trading advice. Bitcoinworld.co.in holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.
</blockquote> 
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The post <a href="https://bitcoinworld.co.in/south-korean-tech-giants-naver-and-kakao-aim-to-launch-their-token-in-june/">South Korean Tech Giants Naver And Kakao Aim to Launch Their Token in June</a> appeared first on <a href="https://bitcoinworld.co.in">BitcoinWorld</a>.

South Korean Tech Giants Naver And Kakao Aim to Launch Their Token in June

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