CRC Capital invested in Klaytn, a blockchain platform owned by Kakao Korea

Updated: Aug 15, 2019

CRC Capital invested in Klaytn, a blockchain platform owned by Kakao Korea as part of its token fund, Blockchain Renaissance I.

Klaytn, developed by the Korean communications giant Kakao's subsidiary Ground X, is the first blockchain platform to potentially achieve large-scale adoption. It combines the best functions of the permissioned and permissionless blockchain with an efficient “hybrid” design which helps overcome the pain points currently encountered when constructing and using blockchains. At the same time, Kakao's large user base, extensive market coverage, and multi-disciplinary industry resources will greatly support the development and breakthrough of the Klaytn platform. Similar to Facebook's Libra Project, Klaytn has also signed up a number of nodes to jointly build the Klaytn ecosystem. Currently, the signed nodes include LG Group, VNG, Jedi Survival, Net Stone Games, Universal Blockchain and other globally renowned companies covering the whole different industries.

Jiang Lifeng, partner of CRC Capital, said that Klaytn is backed by the Kakao Group, which has more than 50 million users, and has attracted participation of well-known traditional enterprises from all walks of life, making a solid step in the large-scale commercialization of blockchain applications. Klaytn team with their fast execution and bold vision is expected to lead the corporation coins, including 'Libra Project' by Facebook.

About CRC:

- CRC is a blockchain investment bank founded by senior executives from top investment institutions in China.

- We are dedicated to providing professional, international and institutional investment banking services to blockchain entrepreneurs.

- CRC has received strategic investments from Huobi Global, JLAB, Gobi VC, Cloudwise and U-nobleman, etc.

- CRC has recently closed subscriptions for its token fund, Blockchain Renaissance I, which is dedicated to support greatest value providers in the blockchain ecosystem.

- For more information, please visit: crc.capital

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