Singapore-based Astar Network and Startale Labs have entered into a memorandum of understanding with Japanese telecom company KDDI to accelerate social adoption of blockchain technology and innovate customer experiences in the ‘Web3 era’.
- The partnership will explore new business opportunities in token technology and applications of Astar Network’s Ethereum scaling solution, the Astar zero-knowledge Ethereum Virtual Machine (zkEVM) in KDDI’s “αU” market.
- KDDI’s “αU” includes Web3 services such as “αU market” and “αU wallet,” which allow customers to manage and trade digital assets.
- With more than 50 million subscribers in Japan, KDDI is a telecommunications giant serving 60 cities and 100 locations around the world.
- Prime Minister Fumio Kishida has expressed support for digital finance and the adoption of Web3 in Japan to revive the economy in what he has called “new capitalism.” He said non-fungible tokens (NFTs) and decentralized autonomous organizations (DAOs) can help support Japan’s national strategy, called “Cool Japan,” to attract investment and expand the economy.