The Klaytn Foundation has embraced $GPC (Gold Pegged Coin) and fully endorsed the DeFi platform, Goldstation, on its blockchain network. For those unfamiliar, the Klaytn Foundation oversees the public blockchain, Klaytn, based in South Korea.

Klaytn, developed by the prominent South Korean internet company Kakao, disclosed that CREDER, a digital transformation firm in South Korea, has introduced the $GPC token. This marks the first gold-backed token available on DeFi outside of Ethereum, with no percentage-based transaction fees.

$GPC users are poised to benefit from Klaytn blockchain's lower gas fees and the option to make smaller investments in purchasing gold. Negative percentage-based transaction fees could further reduce the cost of trading gold tokens on DeFi platforms.

According to Sam Seo, Representative Director of the Klaytn Foundation, they have actively supported CREDER in launching $GPC and Goldstation. Seo emphasized their commitment to introducing various metal RWA tokenization initiatives targeting both local and international markets.

Goldstation is set to commence its services, including $GPC staking, on January 24, 2024, initially catering to South Korean residents before expanding globally.

Klaytn has diversified its utility to include DeFi, real-time asset tokenization, and participation in the Bank of Korea's CBDC trial project. In November 2023, it collaborated with Korindo's shipping division, a major Indonesian player, to explore tokenization models involving shipping assets.