ZikTalk Signs Custody Contract with KODA
One of the leading short-form video platform in Southeast Asia, ZikTalk signs a custody contract with virtual asset customization (trust) contrac with KODA in March 2023. The Web 3.0 short form video platform is also popular in the Philippines since it's first launched online.
The Web 3.0-based short-form video platform ZikTalk announced on the 3rd of March that through the contract signed with KODA, ZikTalk Foundation will keep the ZikTalk Token in KODA's "virtual consignment service" system.
Based upon the contract KODA will keep the volume of ZIK Tokens and distribute them to the market according to the schedule planned by the ZikTalk Foundation in the white paper to provide stability and transparency of virtual assets.
According to KODA's official website which is in Korean language, KODA is a virtual asset consignment service company established by KB Kookmin Bank with blockchain technology Hatch Labs and blockchain investment company Hashed and provides one-stop digital asset consignment specialized services to corporations and institutions.
The contract agreement between ZikTalk Foundation and KODA allows ZikTalk plans to manage virtual assets more safely and transparently by using KODA's custodial services according to the appropriate standards required by certain financial information laws.
"As ZikTalk aims for a growing Web 3.0 service with all participants who contributed to the platform's growth, transparency and stability of digital assets held by the foundation are paramount," a ZikTalk official said. "We plan to strengthen the brand's trust by entrusting and managing 'ZIK', a digital asset, according to the disclosure schedule."
Last September 2021 ZikTalk through their official Medium account announced that after months of development and testing, they launched ZikTalk 2.0, an improved version of their Ziktalk 1.0 app. ZikTalk 2.0 is a short-video platform that enables users to create and share the videos and earn while doing so.
The new version is an upgrade to their previous app where everythign was based on image posts, chatting and calling while ZikTalk 2.0 is solely video-based. They believe that video-sharing is the future of social media and have been developing fun features for their users.
The Web 3.0 app Ziktalk is a short-form video platform that provides ZIK tokens as rewards to creators who watch video content or upload video content. The Ziktalk application has more than 1.1 million users, mainly in Southeast Asia such as Vietnam, Indonesia, the Philippines, and Bangladesh.
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