ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon Print

Kakao-backed crypto project races to expand outside South Korea

Competition among 'layer one' blockchains heats up as regulatory scrutiny grows

David Shin, head of global adoption at Krust Universe, a Singapore-based subsidiary of South Korea's Kakao that is backing the cryptocurrency project Klaytn. (Photo source materials courtesy of Krust Universe)

NAHA, Japan -- Klaytn, a cryptocurrency project backed by South Korean Internet conglomerate Kakao, is accelerating its overseas expansion amid growing regulatory scrutiny in its home market, a group executive told Nikkei Asia.

Krust Universe, a Singapore-based subsidiary of Kakao, recently invested in Japanese crypto gaming startup Oasys as part of its $20 million funding round. It aims to bring Oasys' gaming content to Klaytn.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more