[Apha Biz=(Chicago) Reporter Paul Lee] Wemade has joined hands with SK Planet to expand the blockchain ecosystem. The two companies mutually invested KRW 35 billion worth of shares.

Wemade announced on the 18th, "We have decided to acquire a 35 billion won stake in SK Planet from SK Square, the parent company."

Wemade will invest 20 billion won to buy a 7.08% stake in SK Planet and 15 billion won in Wemade subsidiary Electric IP to buy a 5.31% stake. SK Planet will acquire 20 billion won in convertible bonds (CB) issued by WeMade.

It will also acquire a stake worth 150 won held by Wemade Chairman Park Kwan-ho. SK Planet will hold a 1.27% stake in Wemade with the investment of 35 billion won.

Park has decided to buy Wemix with funds secured from the stake sale. Wemix is a virtual asset used on the blockchain platform built by WeMade. Wemade announced in May last year that SK Square, the parent company of SK Planet, will participate in the Wemix ecosystem. At that time, SK Square was known to be in charge of node operation, including the creation of blockchain in Wemix.

With this collaboration, the two companies will be able to strengthen the business competitiveness of the blockchain platform.

 

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