By AIRA MIRANDA

The newly formed Kaia blockchain platform, resulting from the merger of Klaytn and Finschia, has been unveiled in the Philippines. This strategic move aims to leverage Asia's burgeoning blockchain potential.

Originally developed by Kakao Enterprise, Klaytn is South Korea's premier blockchain network, boasting a market capitalization of $671 million. It integrates seamlessly with the Kakao super app, used by over 96% of South Koreans. Finschia Foundation, established by LINE Tech Plus, focuses on sustainable token models and operates the NFT marketplace DOSI.

Kaia, with its robust ecosystem of over 420 decentralized applications (DApps), taps into a potential user base of over 250 million through Kakao and LINE's channels. This positions it as Asia's largest Web3 ecosystem.

“Kaia's launch in the Philippines unlocks easier access to advanced blockchain technology. Filipino developers and entrepreneurs can now create and deploy DApps more efficiently,” remarked Dr. Sam Seo, Representative Director of Klaytn Foundation. 

With strong local support from the Blockchain Council of the Philippines, Bitskwela, and YGG, Kaia is set to transform the Philippine blockchain landscape, starting with Web3 gaming.