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December 13, 2018 12:21 pm

South Korea’s Kakao Invests in Israeli Blockchain Firm Orbs

avatar by Reuters and Algemeiner Staff

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Ethan Chernofsky, the VP of marketing for Orbs, speaks at the World Blockchain Summit in December 2018. Photo: Twitter.

Israeli blockchain startup Orbs said on Thursday it 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. Kakao, South Korea’s largest messaging app operator, earlier this year said it would establish a unit focusing on blockchain technology.

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

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