Oct 13, 2020 · 3 min read · cat
Linear Finance has entered partnerships with leading Korean crypto asset and venture fund, #HASHED, and blockchain consultancy firm, Ellipti, to drive further Korean adoption. The partnership will position Linear Finance well to launch into the Korean market, a key user base to win over leading up to our testnet launch this month.
The team is particularly thrilled given the insights and behaviour of the Korean crypto market. Capturing a market with users that are engaged and highly literate in the digital/crypto space will be important to protocols that are very interactive with comparatively steeper learning curves/complex app architecture (like a synthetic asset trading protocol like Linear Finance). Without a doubt, the Korean market is very familiar with investing, speculating and trading in the crypto space; currently the Korean Won is the fourth most traded fiat currency exchanged with Bitcoin (behind only the USD, Japanese Yen and Euro) and ranks top ten globally for the volume of Bitcoin exchanged.
Furthermore, the socio-economic infrastructures in Korea are among the most progressive and supportive for a synthetic asset trading protocol. In addition to leading specialised virtual asset, blockchain and crypto based funds, there is a wealth of leading consultancies and advisory services not just in the space of digital/virtual assets but also in cutting edge technologies like blockchain and artificial intelligence. The institutional landscape in Korea possesses deep expertise and experience that can support crypto investment, adoption and growth. Meanwhile, from the perspective of public infrastructure, several nation wide initiatives embracing new technologies and the recently passed regulatory framework regulating the crypto assets further consolidates Korea as one of the most technologically progressive places in the world. Therefore, consistent with historical data and current trajectories, the strategic importance of understanding the Korean market and engaging with its communities cannot be ignored.
In light of the considerations above, the Linear Finance team are extremely proud about its partnership with #HASHED, the leading crypto fund and community builder in Korea. #HASHED will undoubtedly provide invaluable insight and support as we continue to refine our product and engage our Korean community ahead of launch. Ryan Sungho Kim, Co-Founder and Partner at #HASHED said: “Linear Finance’s vision for a synthetic asset trading protocol is ambitious but we are confident in Linear Finance’s technical and financial expertise. Given the nature of Korean crypto user base, if provided the right community guidance and exposure, the protocol has the potential to gain real traction.”
Compounding our Korean market strategy on top of #HASHED is our partnership with Ellipti. Ellipti is a consultancy, marketing and research firm with a wealth of experience working with other blockchain/crypto companies to advise and build out their Korean market presence, whether this is from inception seeding or mature structural advisory. Ellipti enables deeper localised understanding of the Korean crypto space and has helped Linear Finance to achieve engagement across our social channels through AMAs, promotions, features and exposure. Recently, with Ellipti the Korean Linear Finance Medium platform (https://medium.com/linear-finance-korea ) was released, in addition to the Korean language toggle on the Linear Finance website.
Kevin, Co-founder and Business Lead at Linear Finance said: “Our vision is to create a decentralized protocol that is accessible to all. However, we have also been sensitive to understanding local context and patterns integral for success. The combination of crypto familiarity, user adoption and strong infrastructure makes Korea a very attractive and important market to engage and capture. On the product side, we are also experimenting with competitive offerings such as synthetic Korean crypto-indexes and localised thematic baskets to maximise the competitiveness of Linear Finance. We are extremely pleased about our partnerships with #HASHED and Ellipti, and look forward to the optimistic future ahead”.
To conclude, Linear Finance’s partnership with #HASHED and Ellipti marks only the beginning of a journey with many more exciting opportunities to come.
About Linear Finance
Linear Finance Information Links:
- Website — https://linear.finance
- Korean Medium — https://medium.com/linear-finance-korea
- Telegram Community — https://t.me/linearfinanceofficial
- Twitter — https://twitter.com/LinearFinance