Arbitrum to build ecosystem for blockchain developers in South Korea

Korean firm specializing in web3 and blockchain Dispread announced a partnership with a second-level solution on Ethereum Arbitrum.

According to a press release on Feb. 29, Dispread plans to distribute research content and development guides to help Arbitrum build a development ecosystem in the Korean market and eliminate language and cultural barriers existing Korean developers face.

“Disspread also plans to focus on creating a collaborative environment with Arbitrum for domestic companies seeking to introduce blockchain technology.”

Disspread team

The partnership’s ultimate goal is to expand Arbitrum’s presence in the Korean market to provide a seamless development environment for Korean developers and companies.

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Arbitrum is considered the most extensive layer 2 solution regarding total locked value (TVL) volume. TVL is the most critical metric for assessing capital invested in a blockchain or decentralized financial (defi) protocol. Since the beginning of the year, the blockchain has seen notable positive net asset inflows, exceeding $14 billion, according to l2beat.

Source: l2beat

Against the backdrop of the partnership announcement, the native token Arbitrum (ARB) is trading at $2.00 at the time of publication. Over the past 24 hours, it has risen in price by 4% and by almost 10% over the month, according to CoinMarketCap.

As for South Korea, this country is increasing its influence in the cryptocurrency industry. In December, Bloomberg reported that the South Korean won overtook the U.S. dollar regarding trading volumes on cryptocurrency exchanges for the first time. Journalists note that many companies see great opportunities in South Korea due to growing regulatory pressure in the United States.

Read more: South Korea excludes decentralized crypto wallets from overseas declarations