Dispread, a Korean company with web3 and blockchain, has officially confirmed that it will work with Arbitrum, a layer-2 solution on the Ethereum blockchain.
The partnership, announced in a press release on Feb. 29, is meant to boost web3 innovation in the Korean market by giving researchers and developers access to a large amount of content for study and development.
Dispread and Arbitrum Forge Key Alliance for Korean Blockchain Advancement
The Dispread team has promised to make Korea vital to Arbitrum’s growth. By sharing helpful information and tools, Dispread hopes to make it easier for Arbitrum’s layer-2 solutions to fit in with the Korean blockchain environment. The agreement’s primary goal is to make Arbitrum more visible in the Korean market so that Korean companies and developers can find the best conditions for blockchain development.
Arbitrum is a well-known layer 2 solution with the market’s total locked value (TVL) amount. TVL is an essential measure of how much funds were put into a blockchain or decentralized financial (DeFi) system. In particular, Arbitrum has seen net asset movements exceeding $14 billion since the start of the year, according to L2beat.
After the news of this agreement, ARB, the native token of Arbitrum, is trading at $2.00. According to CoinMarketCap, its value has increased by 4% in the last 24 hours and by almost 10% over the past month.
South Korea is becoming more important in the Bitcoin business. Bloomberg reported that the South Korean won traded more on cryptocurrency platforms than the U.S. dollar for the first time in December. Analysts think this trend is caused by people seeing chances in South Korea while regulatory pressures rise in the US.
