As a seasoned researcher with years of experience in the crypto realm, I find this partnership between Korbit and Coinbase intriguing. Having closely followed the growth of South Korea’s virtual asset industry, it’s clear that this collaboration is a strategic move to stay competitive in the rapidly evolving global landscape.
As a researcher in the field of cryptocurrency, I’m excited to share that Korbit, the esteemed South Korean crypto exchange, has joined forces with Coinbase to introduce Base Chain to its platform. This means that users like myself can now effortlessly execute Base Chain deposits and withdrawals directly on Korbit, streamlining our digital asset management experience.
A report by Business Korea, dated November 8th, indicates that Korbit has entered into a business contract with leading American cryptocurrency exchange, Coinbase. The aim is for Coinbase’s Base Chain Network to be hosted on the Korbit platform.
Thanks to Korbit’s partnership with Coinbase, users can now carry out multi-chain transactions straight from the Korbit platform. As an example, users are able to deposit Ether (ETH) on the Ethereum network and withdraw it on the Base Chain (BASE), and the reverse is also possible.
As a result, Coinbase will assist Korbit by organizing promotional activities, participating in community events, and facilitating integration with the Coinbase Chain network.
Beyond this, the alliance formed by these two corporations will foster joint initiatives aimed at creating on-chain technology within South Korea, as well as broadening the reach of Base Chain functionalities nationwide.
In simple terms, Oh Se-jin, the head of Korbit, showed enthusiasm about their partnership with Coinbase. He anticipates that this collaboration could help fuel the expansion of South Korea’s rapidly developing virtual asset sector.
Oh stated, “Here’s a chance for us to create business strategies that match the swiftly evolving global market dynamics, ensuring our competitive edge. In the days ahead, we aim to offer unique advantages to our users through innovative services.
Dan Kim, who serves as the Vice President of Business Development at Coinbase, expressed enthusiasm about Base Chain extending its invitation to more Korean traders to join its decentralized network. He characterized Base Chain as an inclusive platform, striving to be within reach for individuals worldwide.
Kim stated that they are excited about the prospect of ongoing collaboration with Korbit, which includes organizing buildathons, hackathons, and community education events in South Korea.
In simpler terms, Coinbase’s Base Chain is a type of Ethereum Layer 2 blockchain, which aims to foster a thriving environment for on-chain applications. This network was officially launched in August 2023, with the primary goal of strengthening the decentralized app (dApp) ecosystem within Ethereum.
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2024-11-08 14:18