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Blockchain News

Chinese Crypto Companies surging to South Korea

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Chinese Crypto Companies surging to South Korea

Following the crackdown in China’s mainland cryptocurrencies market, reports indicate that most of the nation’s cryptocurrency businesses, including Qtum, are turning to South Korea as their major target market. In a report by a media outlet, WaykiChain has also begun to trail the path blazed by Qtum and other companies in South Korea as it is reportedly taking major steps to enable it to penetrate into the South Korean market. Reports put one of the major steps at a strategic increase in the interest on their WICC and gaming DApps, so as to attract more crypto investors.

A WaykiChain representative expressed at a recent press conference its hopes of introducing in-game betting solutions for the South Korean market. In explaining the workings of this proposed solution, the representative noted that the WICC coins will be capable of being utilized as payments for asset transactions, financing overseas settlement, and also as a currency by different gaming apps.

Reports confirm that WaykiChain has secured the support of Korea Block-Chain Content Association Committee, an association which has a friendly relationship with Korea Digital Coin Research Institute, as well as with some renowned mobile game developers in the country.

It was reported last month that NHN Entertainment, a South Korean game developer, reached a partnership deal with a Chinese crypto-exchange called OKCOin, which led to the formation of OKCOin Korea.  It is thus being envisaged by different media outlets and crypto enthusiasts that WaykiChain may strike a partnership deal with Huobi Korea. Prior to this, Huobi had offered WICC Coin a trading slot on its exchange. Huboi exchange, although only started trading earlier this year in March, was the world’s biggest exchange before China’s crypto-crackdown.

AsiaCryptoToday is a team of executive Asia Crypto Researchers set to bring you the latest Cryptocurrency News from Asia (Vechain, NEO, QTUM, Elastos)

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