GMO Internet Group Enters Partnership to Explore Building Blockchain Business on Klaytn
January 12, 2022 at 08:00 am EST
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GMO Internet Group will partner with Klaytn Foundation to explore blockchain business synergies on Klaytn, a blockchain initiative by the Kakao Group. GMO Internet Group's latest move is a continuation of the conglomerate's global expansion in internet infrastructure, financial services, e-commerce, payments, and cryptocurrency business segments. It currently operates online FX trading platform and brokerage, internet bank, the payment gateway businesses, cryptocurrency exchanges, and is the issuer of stablecoins GYEN and ZUSD which are pegged to JPY and USD respectively.
GMO Internet Group takes pride in building all of its products internally and has a deep expertise in blockchain based product development. Klaytn Foundation is a non-profit entity in Singapore that supports the Klaytn blockchain ecosystem by accelerating sustainable global growth of Klaytn. Klaytn is a service-centric blockchain platform that aims to provide an intuitive development environment and user-friendly experiences for blockchain.
Klaytn Foundation supports partners through various resources for testing the feasibility of blockchain businesses in preparation for mass adoption. One of the ways this is done is through management of the $500 million Klaytn Growth Fund, which supports ecosystem players through various capital deployments.
GMO Internet Group Inc, formerly GMO Internet Inc, is engaged in Internet infrastructure business, Internet advertising and media business, Internet finance business, crypto asset business and incubation business. The Company operates through five segments. The Internet Infrastructure segment is engaged in domain business, cloud hosting business, electronic commerce (EC) support business, security business, and access business. The Internet Advertising and Media segment is engaged in Internet advertising business, Internet media business, and Internet research business. The Internet Finance segment provides financial instruments trading services such as online securities trading services and foreign exchange margin trading services. The Crypto Asset segment is engaged in the business related to crypto asset exchange and mining. The Incubation segment invests in unlisted companies, mainly Internet-related companies. The Company is also engaged in the mobile entertainment business.
GMO INTERNET GROUP, INC. 
