Klaytn, the public blockchain project led by the South Korean Internet giant Kakao, today announced that Shinhan Bank has joined the Klaytn Governance Council to partake in the platform’s blockchain operation.

Undertaking the Klaytn platform ownership, the Council members function as key decision-makers for Klaytn’s business and technical developments, including the consensus node network operation dedicated to advancing blockchain utility. Existing members include Worldpay, LG Electronics, and more.

Shinhan Bank, a global financial leader in digital innovation, has built various blockchain based financial services including government policy loan, retirement pension, and derivative settlement since 2017. In addition to participating in co-governance of the Klaytn blockchain, Shinhan will develop various Klaytn-based digital services that can help foster the fintech ecosystem.

Officials at Klaytn said we welcome Shinhan, one of Korea’s largest banks, to participate in the co-governance of Klaytn, and together with Shinhan and our Council members, we will continue to stimulate sustainable growth of the Klaytn ecosystem.

Officials at Shinhan Bank said we are excited to join Klaytn Governance Council involving various leading global organizations in diverse industries. We aim not only to create an ecosystem but also to introduce a digitally transformed financial service based on blockchain. 

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