Klaytn, the leading blockchain project led by the South Korean Internet giant Kakao, announced that the cryptocurrency exchange Huobi is joining the Klaytn Governance Council.

Developed by Kakao’s blockchain unit, Ground X, Klaytn is a public blockchain platform whose mainnet launched in June last year. Klaytn partners with major firms and businesses as part of its Governance Council program to together run its distributed network under a shared governance. Undertaking the Klaytn platform ownership, the Council members function as key decision makers for Klaytn’s business and technical agenda, including the consensus node network operation. Additionally, they work towards developing Klaytn-based applications and implementing its technology to their existing services. With Huobi onboard, the Klaytn Governance Council currently has 28 enterprises including LG Electronics, Union Bank of the philippines, and Celltrion.

Established in 2013, Huobi is operating a leading global blockchain and digital assets business. It provides a secure and convenient trading platform and digital asset management services for millions of users across over 130 countries. The multi-chain Huobi Wallet, famous for its highly reliable security and simple function, also supports Klaytn’s token, KLAY and other Klaytn-compatible tokens.

“We believe that the contributors who run the platform with their interests aligned with the platform’s long-term development plans are the most qualified to undertake the Klaytn governance,” said Sangmin Seo, the Head of Platform Group at Ground X. He added, “We are excited for Huobi to work with other Council members to jointly run and govern the Klaytn platform, as well as create use cases that can foster the development of the global blockchain ecosystem.”

Advertisement

“The new partnership advances Huobi’s mission to make blockchain technology more accessible to users across the globe,” said Ciara Sun, the Vice President of Global Business at Huobi Group. “We are looking forward to working closely with other Council members to accelerate the growth of the whole blockchain ecosystem.”