South Korean Blockchain Klaytn Revolutionizes DeFi With Cutting-edge Gold RWA Platform

Klaytn Foundation, the organization behind the Klaytn blockchain, has introduced GPC token and Goldstation platform as the first gold asset tokenization service outside of Ethereum.

According to the announcement on January 2nd, Klaytn Foundation revealed its collaboration with the digital asset converter CREDER to introduce the GPC token and its listing platform, Goldstation, on its Klaytn blockchain.

Klaytn is also one of the pioneers in the Real World Asset (RWA) field. In this case, users in South Korea can convert their “physical gold” into NFTs through The Mining Club, and then use this NFT as collateral to mint GPC tokens.

Goldstation DEX will also be the first platform to provide RWA trading services for gold outside of Ethereum. Trading or staking GPC services on Goldstation are expected to be available starting from January 24, 2024.

In the future, the blockchain headquartered in South Korea plans to expand its gold tokenization service globally, as well as diversify into other metals.

Klaytn Foundation has been working together with CREDER’s meticulous preparation for $GPC and Goldstation. Moving forward, we will closely cooperate with them to deliver more diverse metal RWA tokenization projects for the domestic and global markets.

Sam Seo, the representative director of Klaytn Foundation, stated in a declaration to The Block:

The Klaytn Foundation was established in 2020 to expand the ecosystem for the Klaytn layer-1 blockchain (developed by internet giant Kakao). So far, the organization has actively engaged in various government-related initiatives, including piloting the Bank of Korea’s CBDC and collaborating with Korindo Shipping to tokenize port-related assets.

The KLAY token on the blockchain is currently priced at 0.23 USDT, with a flat graph indicating limited reaction to the launch of GPC and Goldstation.

* We hope this information will help you in your investment process, but this is not investment advice. Every investment carries risk, especially in this industry, so DYOR before making a decision.