SK Planet to Purchase MOCA Coin to Adopt Decentralized Identity Infrastructure

SK Planet of SK Group, South Korea's second largest listed company, today announced that it will purchase MOCA Coin on the open market to enable SK Planet to participate in Moca Network's decentralized identity network for credential issuance and verification. Moca Network is a flagship project by Animoca Brands that is building the world's largest chain-agnostic decentralized digital identity network.

The acquisition of MOCA is part of SK Planet's initiative to adopt Moca Network's enterprise-grade decentralized identity infrastructure, including AIR Account and AIR Identity, across its ecosystem, introducing zero-knowledge proof technology and decentralized identity verification to SK Planet's 28 million users, as well as a high standard for user data ownership and interoperability.

Merchant-side verification with user consent

Through the integration of Moca Network's AIR Account and AIR Identity, SK Planet will enable its 95,000 merchant partners to verify their users' private data with their explicit permission, ensuring that data ownership remains under user control. User data generated on SK Planet's platform will also be directly verifiable by other AIR Kit partners, making privacy-preserved data interoperable across SK Planet's ecosystem and beyond.

What the partners said

Kyosu Kim, chief business officer at SK Planet, said: "Partnering with Moca Network enables SK Planet to bring decentralized identity and privacy-preserving verification to our millions of customers and merchant partners. By leveraging AIR Kit and AIR Wallet, we can expand the benefits of OKI Club and reward our users with MOCA Coin while giving them greater control over their data. This is a strategic step forward in aligning with global standards for user privacy and digital identity."

Kenneth Shek, project lead of Moca Network, said: "SK Planet's purchase of MOCA Coin as well as SK Planet's integration of AIR Kit infrastructure and adoption of zero-knowledge proofs mark an important milestone in returning data ownership to users at an enterprise scale. By joining Moca Network's identity ecosystem and enabling merchant-side verification with user consent, SK Planet is demonstrating how large consumer platforms can adopt decentralized identity to deliver both privacy and utility."

Building on OKI Club

Building on the successful launch of OKI Club integrated with AIR Wallet in February 2025, SK Planet will further integrate Moca Network's AIR Identity into its services, enabling users to verify their identity and earn rewards from multiple platforms, and utilize wallet features to manage the received rewards, including via token swaps, staking, and other functionalities.

About Moca Network

Moca Network is building the world's largest chain-agnostic decentralized identity network, with privacy-preserved infrastructure for identity verifications, and interoperability of users and data across industries and ecosystems. As the premier identity ecosystem created by Animoca Brands, Moca Network is uniquely positioned to leverage Animoca Brands' ecosystem of over 570 portfolio companies, more than 700 million addressable users, and a diverse range of enterprise partners.

About SK Planet

SK Planet is a leading data and technology company in South Korea. Operating the country's largest integrated rewards service, OK Cashbag, and the Web3 wallet UPTN Station, SK Planet is at the forefront of integrating technology with user-centric services.

More from AIR: AIR Loyalty, AIR Money and AIR Identity, or browse the full AIR blog.