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Corporation
groundx.xyz

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Investments

3

Partners & Customers

2

About Ground X

Ground X is the blockchain subsidiary of Korean mobile platform Kakao. By developing a scalable blockchain platform with tangible and practical blockchain services, Ground X aspires to achieve mass adoption of blockchain-empowered services as to substantiate the value and utility of blockchain technology.

Ground X Headquarter Location

27F, Parnas Tower, 521 Teheran-ro, Gangnam-gu

Seoul,

South Korea

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Research containing Ground X

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CB Insights Intelligence Analysts have mentioned Ground X in 1 CB Insights research brief, most recently on Jul 3, 2019.

Latest Ground X News

Bank of Korea selects Ground X for CBDC blockchain simulations

Jul 23, 2021

Bank of Korea selects Ground X for CBDC blockchain simulations Friday 23 July 2021 10:44 CET | News Bank of Korea has announced Ground X , founder of the Klaytn public permissioned blockchain, as the provider for its central bank digital (CBDC) currency tender, according to Ledger Insights . Ground X is the blockchain subsidiary of Kakao, Korea’s largest social network. The company will work with other subsidiaries Kakao Pay and Kakao Bank on the CBDC simulation for a digital won with a budget of up to Won 4.96 billion (USD 4.4 million). In terms of technology, the Klaytn blockchain created by GroundX is derived from Ethereum, and Ground X recently partnered with Ethereum development house ConsenSys to build a private blockchain for CBDC work. ConsenSys is working on multiple CBDC projects including in Thailand, Hong Kong, France, and Australia. The Kakao subsidiary beat two other bidders, SK and Line Plus, a joint venture between SoftBank and social media company Naver. It looks like the most significant factor in losing the bid was pricing. Line Plus ranked poorest on price, scoring 8.1 compared to 9.98 from Ground X. But there was little to choose between them regarding expertise, with Ground X narrowly winning with a score of 85.4 versus 84.6 for Line Plus and SK was assessed at 80.5. Ground X will start working in August 2021, with the first phase to be completed by December 2021. Assuming the project progresses, the central bank wants to complete the functionality for protecting personal information by February 2022.

Ground X Investments

3 Investments

Ground X has made 3 investments. Their latest investment was in Key Inside as part of their Corporate Minority on April 4, 2021.

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Ground X Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

4/22/2021

Corporate Minority

Key Inside

Yes

2

3/25/2019

Corporate Minority

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$99M

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10

10/7/2018

Seed

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$99M

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10

Date

4/22/2021

3/25/2019

10/7/2018

Round

Corporate Minority

Corporate Minority

Seed

Company

Key Inside

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Amount

$99M

$99M

New?

Yes

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Co-Investors

Sources

2

10

10

Ground X Partners & Customers

2 Partners and customers

Ground X has 2 strategic partners and customers. Ground X recently partnered with ConsenSys on July 7, 2021.

Date

Type

Business Partner

Country

News Snippet

Sources

7/21/2021

Vendor

ConsenSys

United States

GroundX Partners with ConsenSys, Wins Bank of Korea Central Bank Digital Currency Project.

Hong Kong , July 21 , 2021 -- Today ConsenSys is proud to announce it will be the lead technical partner for GroundX 's winning bid for the Bank of Korea Central Bank Digital Currency pilot project .

1

8/29/2018

Partner

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10

Date

7/21/2021

8/29/2018

Type

Vendor

Partner

Business Partner

ConsenSys

Country

United States

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News Snippet

GroundX Partners with ConsenSys, Wins Bank of Korea Central Bank Digital Currency Project.

Hong Kong , July 21 , 2021 -- Today ConsenSys is proud to announce it will be the lead technical partner for GroundX 's winning bid for the Bank of Korea Central Bank Digital Currency pilot project .

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Sources

1

10

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