Kakao Corp, the major internet conglomerate and service provider for popular South Koreanmessaging app KakaoTalk, and a new stablecoin project, dubbed Terra, have signed a partnership agreement to develop the latter’s blockchain-based payment system, local news outlet The Korea Times reported Nov. 14.
The new partnership agreement is to apply the former’s blockchain platform technology Klaytn, the brainchild of Kakao subsidiary Ground X, to blockchain-based payment system.
Through two firms cooperation, it is planned “to enhance core requirements for payment services, such as speed, stability and reliability,” says the article. It also adds:
“The […] partnership agreement is expected to contribute to promptly creating a blockchain ecosystem suitable for services offered to a large group of people.”