Kakao's cryptocurrency listed on Upbit Indonesia

By Kim Bo-eun

Captured from Klaytn's Facebook page

Kakao's cryptocurrency Klay will be listed on the Upbit Indonesia exchange Thursday, the IT giant said Wednesday.

The cryptocurrency is also set to be listed on Upbit Singapore, but Kakao said it could not specify the date.

Last year, Kakao's blockchain subsidiary Ground X developed its public blockchain platform Klaytn.

"We decided to list Klay on cryptocurrency exchanges in the respective countries, as we aim for Klaytn to become an Asia-based platform," a Kakao official said.

Ground X, established in 2018, has partnered with conglomerates including Samsung Electronics for its platform Klaytn.

The collaboration produced various blockchain applications and a wallet containing the cryptocurrency, Klay, for Samsung phones.

Other partners of Ground X are affiliates of LG Group including its electronics and telecommunications units and Hanwha Group, as well as biopharmaceutical firm Celltrion and major game companies.