South Korean Digital Asset Company KODA Seals Commercial Partnership with Polygon Labs for Polygon Mainnet Hosting Services

On April 24th, according to Hankyung, South Korean Digital Asset Company (KODA) announced a commercial agreement with Polygon Labs to provide hosting services for Polygon’s main network and collaborate to support Polygon based projects. KODA is a joint venture established by KB National Bank, Hashed, and Haechi Labs, and is a virtual asset custody service company in South Korea.

KODA, a South Korean digital asset custody company, will provide custody services for Polygon’s main network

On April 24th, Hankyung reported that South Korean Digital Asset Company KODA has entered into a commercial agreement with Polygon Labs to provide hosting services for Polygon’s main network and collaborate to support Polygon-based projects. KODA is a joint venture established by KB National Bank, Hashed, and Haechi Labs, and is a virtual asset custody service company in South Korea.

What is Polygon?

Polygon (formerly known as Matic Network) is a Layer 2 scaling solution for Ethereum. It aims to provide faster and cheaper transactions on the Ethereum network by using Plasma-based sidechains. Polygon was founded in 2017 by Jaynti Kanani, Sandeep Nailwal, and Anurag Arjun. The team behind Polygon consists of experienced developers, researchers, and economists with a shared passion for blockchain technology.

KODA’s Role in the Partnership

As part of the commercial agreement, KODA will provide hosting services for Polygon’s main network, enabling faster and more efficient transactions for Polygon users. KODA will also collaborate with Polygon Labs to support Polygon-based projects, helping to promote the adoption of blockchain technology in South Korea.
KODA’s expertise in virtual asset custody services makes them an ideal partner for Polygon, as it requires a high level of security and reliability to properly protect user assets. KODA’s partnership with Polygon Labs will help to strengthen both companies’ positions in the South Korean blockchain market.

The Importance of the Partnership

The partnership between KODA and Polygon Labs is significant for both companies and the broader blockchain industry. It demonstrates the continued growth and expansion of the blockchain industry in South Korea, and the willingness of major financial institutions to embrace blockchain technology.
Moreover, the partnership will help to increase the adoption of blockchain technology in South Korea. As KODA provides virtual asset custody services, it is well-positioned to promote the use of blockchain technology among individuals and businesses in South Korea, helping to drive innovation and economic growth.

Looking to the Future

The KODA-Polygon Labs partnership is just one example of the growing collaboration between blockchain companies and traditional financial institutions. As blockchain technology becomes more widely adopted, we can expect to see more partnerships between blockchain companies and traditional financial institutions, as they look to leverage each other’s strengths and expertise to drive innovation and growth.
Moreover, the partnership between KODA and Polygon Labs is likely to have ripple effects across the broader blockchain industry, as other companies and institutions take notice and consider their own strategic partnerships and collaborations.

Conclusion

The commercial agreement between KODA and Polygon Labs is a significant development for both companies and the broader blockchain industry. It demonstrates the continued growth and expansion of the blockchain industry in South Korea, and the willingness of major financial institutions to embrace blockchain technology. The partnership will help to increase the adoption of blockchain technology in South Korea, driving innovation and economic growth.

FAQs

What is KODA?

KODA is a virtual asset custody service company in South Korea. It is a joint venture established by KB National Bank, Hashed, and Haechi Labs.

What is Polygon?

Polygon (formerly known as Matic Network) is a Layer 2 scaling solution for Ethereum, providing faster and cheaper transactions on the Ethereum network.

What is the significance of the KODA-Polygon Labs partnership?

The partnership demonstrates the growing collaboration between blockchain companies and traditional financial institutions, as they leverage each other’s strengths and expertise to drive innovation and growth. It also helps to increase the adoption of blockchain technology in South Korea, promoting economic growth and innovation.