DeFi tech startup 1inch partners with Ground X to provide swapping features for a leading crypto wallet in South Korea
About a year ago, we covered 1inch Network, a distributed network for decentralized protocols on various platforms, including Ethereum, BNB Chain, Polygon, Avalanche, and others. At that time, the DeFi startup collaborated with KuCoin Wallet to launch their native swap feature. Since then, 1inch has been actively forming partnerships with crypto companies in Asia.
Today, they announced a new partnership with Ground X, integrating the 1inch Swap API into Klip, a widely used crypto wallet in South Korea. This integration aims to empower Klip users with seamless swapping functionality, further expanding 1inch’s presence in the region.
Ground X is an affiliate of the South Korean Internet giant, Kakao. The collaboration starts with integrating the 1inch Swap API into Klip, a multichain mobile wallet launched by Ground X.
Klip is accessible through KakaoTalk, a popular messaging application used by over 90% of the South Korean population, enabling users to access their digital assets conveniently using their KakaoTalk IDs. Klip supports the Klaytn, Ethereum, and Polygon networks, and it has gained significant traction with two million users since its launch in June 2020, making it a leading digital asset wallet in the region.
With the integration of the 1inch Swap API, Klip users will experience enhanced trading capabilities, thanks to the API’s advanced discovery and routing algorithm that finds the best paths for token swaps in the shortest time possible. This integration opens up access to the best rates across various DEXes and expands the list of swappable asset pairs for all Klip users.
“We firmly believe that this strategic partnership with the 1inch Network will empower us to enhance Klip’s services significantly, offering a seamless and user-friendly swap experience for Klip users,” says Zooil Yang, CEO of Ground X. “Building on this partnership, we will actively explore further collaborations across diverse fronts, fueling our drive for continued growth and innovation.”
“We are excited to expand the integration landscape by joining forces with Ground X and powering its cutting-edge Klip wallet. This strategic partnership aligns perfectly with our vision of broadening our presence in the APAC region,” adds Sergej Kunz, co-founder of 1inch Network. “We consider South Korean users a vital part of our mass adoption path and hold them in high regard while, in response, they show genuine interest in our DeFi solutions.”