Binance joins governance council of Kakao’s public blockchain network Klaytn

Cryptocurrency exchange Binance has joined the governance council of Klaytn, a public blockchain network by South Korean Internet giant Kakao’s subsidiary, Ground X.

Binance is the first blockchain firm to join the council, Kakao announced Monday, adding that the other 24 members of the council include enterprises such as LG Electronics and UnionBank of the Philippines. Klaytn mainnet was launched in June.

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Members of the council work as key decision-makers for Klaytn network’s business and technical developments such as running nodes, as well as work towards building Klaytn-based applications.

Kakao said, “more than a dozen” of its 47 partners to date, have already launched blockchain services based on Klaytn, and others are expected to launch later this year.

Ground X CEO Jason Han said the firm will further strengthen the governance council by inviting “leading companies in various industry domains” to join the Klaytn network and drive mainstream adoption of blockchain.

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Yogita Khatri is a senior reporter at The Block, covering all things crypto. As one of the earliest team members, Yogita has played a pivotal role in breaking numerous stories, exclusives and scoops. With nearly 3,000 articles under her belt, Yogita holds the records as The Block's most-published and most-read author of all time. Prior to joining The Block, Yogita worked at crypto publication CoinDesk and The Economic Times, where she wrote on personal finance. To contact her, email: [email protected]. For her latest work, follow her on X @Yogita_Khatri5.