Sat, March 02, 2024

Kakao’s Digital Coin to Unveil its First Exchange Listing

Kakao: The popular Kakao Talk character Ryan made as a gift shop at little FRIENDS shop.

 

Recently, South Korean messaging platform Kakao’s “Klay” token, also known as a local digital coin, has launched Klaytn blockchain.

In addition, the company said it is on its way to make its first official trade listing on Upbit’s platform.

Upbit is the digital coin exchange, handled by South Korean fintech firm, Dunamu.

Moreover, it is supporting the trading of more than 150 crypto resources. Upbit also performs in worldwide exchanges in Singapore, Korea, and Indonesia.

In fact, Upbit is an accomplice of the U.S based trade, Bittrex.

Ground X made Klaytn a worldwide public blockchain platform. It is the blockchain subsidiary of the most Influential South Korean internet organization, Kakao.

Klaytn is a service-driven blockchain platform providing an insightful development environment and friendly client-based experience.

Meanwhile, to commemorate the Klay listing, Upbit is coordinating a social media event to push for Klay consignment to give away a sum of 5,000,000 Klay.

Back in December 2018, Upbit said in a separate deal statement Klay was in a value of 0.03 dollar per unit.

Klay’s Listing on Upbit Indonesia and Singapore

After that, in April 2019, another private sale saw the digital coin reach 0.08 dollar each.

This spring, Ground X said it brought 90 million dollars in a private coin offering.

In a recent blog post, Ground X reported that Klay will list on Upbit’s Indonesia and Singapore platforms before the end of this month.

In addition, in a news report, Upbit was the leading platform to be recognized and list Klay. This may be surprising to both of the close relationship between the two elements.

Elsewhere, Upbit Singapore has announced on September 6 that it will be conducting a price discovery study for Klay by Dutch auction.

This is a process that involves reducing the price until buyers are found. The auction will take place for 12 hours starting on September 18.

Over and above, it could appear to be shocking that Klay is unveiling in Indonesia and Singapore first. It will not be in the home country of Upbit and Kakao.

However, the listing announcement follows a press report recommending that Klay would experience deadlock in listing in South Korea, where primary coin offerings are illegal.

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