FSN ASIA and Six Network Enter Blockchain-Based Decentralized Finance Business with Klaytn

[Asia Economy Reporter Jang Hyowon] Six Network, a subsidiary of FSN ASIA, the overseas business division of comprehensive digital marketing specialist Future Stream Networks (hereafter FSN), has officially launched the ‘definix’ project aimed at promoting DeFi (blockchain-based decentralized finance) business.

The ‘definix’ project is a global financial business focused on the decentralized system, one of the main strengths of blockchain technology. It is a collaborative project leveraging Six Network’s accumulated blockchain technology know-how in the Asian market and Ground X, Kakao’s blockchain technology affiliate, which developed the blockchain platform 'Klaytn'. The project capitalizes on Klaytn’s fast transaction processing and stability across networks.

As the first phase of the ‘definix’ project, Six Network opened a test service for the decentralized exchange (DEX) platform in Thailand on the 31st. Built on the Binance Smart Chain (BSC), the definix DEX is a P2P trading platform that fully focuses on a decentralized system, mediating cryptocurrency transactions directly between individuals, unlike existing centralized cryptocurrency exchanges. The company plans to expand the business from the second quarter by supporting transactions based on Klaytn in addition to the existing BSC system, which supports most cryptocurrency trades, before launching the full service.

Cho Changhyun, CEO of FSN ASIA, stated, “Starting with the implementation of the Thai DEX service, the ‘definix’ project aims to enter the comprehensive Asian DeFi market and marks a significant turning point heralding the beginning of Six Network 2.0.” He added, “By actively utilizing FSN ASIA’s strong network in the Asian market and collaborating with Klaytn, which has proven technological excellence, we will strive to make the ‘definix’ project a representative case of blockchain-based financial popularization, one of the long-standing challenges in the industry.”

In 2018, Six Network successfully commercialized the asset value of digital content mediated by cryptocurrency with a regulated financial institution for the first time in the blockchain industry by launching digital asset-related financial products with Krungsri Bank, one of Thailand’s top three commercial banks.