May 8, 2020   SOURCE: PR NewsWire

Klaytn Joins the Celo Alliance for Prosperity to Enhance the Usability of Digital Assets

    --  Public blockchain platform Klaytn joins Celo Alliance to participate in
        furthering the mission of financial inclusion and prosperity
    --  Klaytn will focus on extending usability of its base token KLAY and
        Celo's stablecoin solutions

SEOUL, South Korea, May 8, 2020 /PRNewswire/ -- Klaytn, the public blockchain project of Korea's Internet giant, Kakao, today announced it has joined the Celo Alliance for Prosperity, a mission-aligned network of organizations fostering social impact and financial inclusion through the use of blockchain technology.

As the new Alliance member, Klaytn joins other global leading member organizations including Andreessen Horowitz, Coinbase Ventures, and B12, to work towards building an open monetary system that creates conditions of prosperity for all. Specifically, Klaytn will extend the usability of its token KLAY as well as secure the usability of Celo stablecoins. Further, Klaytn and Celo will together perform a research on interoperability of the two blockchain protocols.

"The Celo Alliance for Prosperity shares a mutual vision with Klaytn in making digital assets more accessible and useful in our everyday lives," said Sangmin Seo, the Head of Platform Group at Ground X. "We are excited to be supporting and working with the Alliance to stimulate sustainable growth and bring meaningful use cases."

"We are excited to see Klaytn select Celo as the first external blockchain it will interoperate with. By building a bridge between Klaytn and Celo, Klaytn will expand its own ecosystem, and make it simple for people in Korea and across Asia to send and save with Celo," said Chuck Kimble, the Head of Celo Alliance for Prosperity.

About Klaytn (https://www.klaytn.com/)

Klaytn is a global public blockchain platform developed by Ground X, the blockchain affiliate of the leading South Korean Internet company, Kakao. Klaytn is a service-centric blockchain platform providing an intuitive development environment and a friendly end-user experience. It is built upon solid reliability and significant stability with substantial service development for mass adoption. The platform allows real world applications of large scale to be produced right away so that our end-users can make full use of services without much expertise in blockchain or cryptocurrency.

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https://www.facebook.com/groups/klaytndevelopers/

About the Alliance for Prosperity (https://celo.org/alliance)

The Alliance for Prosperity is an ecosystem of mission-aligned organizations including nonprofits, merchants, and payment processors fostering social impact and financial inclusion through the use of blockchain technology. In support of mobile-first open blockchain platform Celo, the Alliance provides infrastructure and education to enable more people to use digital currencies -- specifically, the Celo Dollar stablecoin -- in the geographies that need it most. Each member's combined contributions make it easier to move digital currencies around the world and create accessible financial tools on the Celo platform, with diverse use cases including remittances, humanitarian aid, payments, and microlending.

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SOURCE Klaytn