South Korean Kakao Corp’s Ground X Plans to Extend ICO After Raising $90 Million

The crypto unit of South Korea’s largest internet conglomerate Kakao Corp will repeat its initial coin offering (ICO) after netting $90 million from investors, Bloomberg reported on Mar. 11.

Klaytn, the blockchain platform which is the responsibility of spin-off firm Ground X, will now seek to raise another $90 million as soon as this week. In December 2018, Kakao had first announced that it was planning to raise around $300 million through Ground X to develop its own token.

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