David Edwards
Dispread, a Korean company at the forefront of web3 and blockchain technology, has formed a strategic alliance with Arbitrum, a leading second-layer solution for Ethereum, as announced in a press release on February 29. Dispread aims to leverage this partnership to offer research materials and development guides, paving the way for Arbitrum to foster a robust development community within the Korean market by addressing the language and cultural hurdles Korean developers often encounter.
This collaboration seeks to bolster Arbitrum’s footprint in Korea, aiming to provide Korean developers and businesses with a frictionless development landscape.
In related news, the decentralized finance (DeFi) sector has witnessed its Total Value Locked (TVL) hitting a 20-month peak, with Ethereum leading the pack.
Arbitrum stands out as the premier layer 2 solution in terms of TVL, a key indicator of the capital commitment in blockchain or DeFi projects. Since the year’s start, the platform has experienced significant positive net inflows of assets, surpassing $14 billion, as reported by l2beat.
Following the announcement of this partnership, Arbitrum’s native token (ARB) is currently trading at $2.00. It has seen a 4% increase in the last 24 hours and nearly a 10% rise over the past month, according to CoinMarketCap data.
South Korea is increasingly becoming a pivotal player in the crypto sector. A December report by Bloomberg highlighted that the South Korean won has, for the first time, surpassed the U.S. dollar in trading volumes on crypto exchanges. This shift is attributed to the growing regulatory pressures in the United States, prompting many companies to view South Korea as a lucrative market for crypto ventures.
