April 20, 2024

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[THE INVESTOR] SINGAPORE -- Korea’s leading blockchain startup Blocko is seeking a bigger presence in global markets, opening two branches in Hong Kong and London this year, according to founder and CEO Kim Won-beom on March 15.

“Blocko is one of the few blockchain companies globally that is actually supplying its platform to a slew of corporate clients,” he told The Investor on the sidelines of Money 20/20 Asia being held in Singapore this week.

“Overseas clients seem to be paying keen attention to our platform that has already been tested enough for immediate adoption.” 

Blocko CEO Kim Won-beom Park Ga-young/The Investor

Blocko, established in 2014, develops blockchain-based middleware platform for digital identity and payment services. Its flagship Coinstack has been widely adopted by big financial and tech firms like Lotte Card, Hyundai Card, Samsung SDS and LG CNS.

In terms of user base, it is the nation’s No. 1 enterprise blockchain company with its market share reaching almost 45 percent. Its key client Lotte Card alone boasts 9 million users.

“In blockchain, once we go past the pilot stage, it’s all about collaboration. This year, we will ramp up efforts to attract more overseas clients,” Kim said.

Blocko has thus far attracted about 5 billion won (US$4.70 million) funds from multiple investors, including 1.5 million won from Samsung SDS, the IT and logistics unit of Samsung Group.

Samsung SDS last year launched its own business-to-business platform Nexledger along with Blocko for its first adoption by Samsung Card, the credit card unit of Korea’s largest conglomerate.

By Lee Ji-yoon (jylee@heraldcorp.com)