South Korean blockchain Klaytn onboards gold RWA DeFi platform

Klaytn KLAY

-4.02%
Foundation, the company behind the South Korean-born public blockchain Klaytn, today announced that it has included $GPC (Gold-Pegged Coin) and supporting DeFi platform Goldstation on its blockchain.

Klaytn, the blockchain developed by South Korean internet giant Kakao, said in a statement shared with The Block that CREDER, a South Korea-based digital transformation company, launched the $GPC token, making it the first gold token outside of DeFi offered. of Ethereum. According to Klaytn, it is also the first tokenized gold that does not charge a percentage fee for transactions.

Klaytn said $GPC users will benefit from Klaytn blockchain’s low gas costs, allowing them to allocate small investments to purchase gold. Removing percentage-based transaction fees could also ensure the cost-effectiveness of trading gold tokens on DeFi, Klaytn added.

“Klaytn Foundation has collaborated with CREDER’s meticulous preparation for $GPC and Goldstation,” Sam Seo, representative director of Klaytn Foundation, said in the statement. “Going forward, we will work closely with them to realize more diverse metal RWA tokenization projects for the domestic and global markets.”

Goldstation said it will begin services on January 24, including $GPC strike. The platform plans to start serving residents of South Korea, but plans to launch globally in the future.

Klaytn blockchain has expanded its use cases to DeFi, real-world asset tokenization, and the Bank of Korea’s CBDC pilot project. In November, for example, it collaborated with an expedition unit from Korindo, an Indonesian conglomerate explore tokenization practices with ship-related assets.