JTA NEWS
26 April 2019 - 21 Nisan 5779 - כ"א ניסן ה' אלפים תשע"ט
JTA NEWS :
Blockchain startup Orbs receives South Korean investment E-mail

Israeli blockchain startup Orbs announced in December that it had received an investment from Kakao Investment, the venture arm of South Korean internet conglomerate Kakao Corp.

Orbs did not disclose the size of the investment, but sources indicate it was a sevenfigure sum.

Kakao, South Korea’s largest messaging app operator, said last year that it would establish a unit focusing on blockchain technology.

Orbs said the investment will help it further its development and growth and will build on its existing partnership with Kakao blockchain subsidiary Ground X. The two companies have agreed to partner on blockchain applications and research and development projects.

Founded in 2017, Orbs is building a public blockchain acting as middleware solution for large-scale consumer decentralised applications (DApps). The technology is designed to support interoperability with multiple base-layer blockchains.

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