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The blockchain subsidiary of South Korean messaging giant Kakao, Ground X minces $90 million in a private coin offering. Reportedly, the firm is planning to raise “a similar sum” in another round starting Tuesday, before its launch its blockchain platform in June.

As per a report by Bloomberg on Monday, Jason Han, Ground X CEO told that IDG Capital, Cresendo Equity Partners and Translink Capital had participated in the round.

Ground X

In March 2018, Kakao revealed its initial plan to set up a blockchain subsidiary. Soon after that, they launched Ground X to develop a blockchain-powered platform as a foundation for application developers. The top execs of the company elaborated at the time that the plan was to integrate future blockchain-based services with Kakao’s existing internet offe...

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