Why is SK Planet buying MOCA Coin?
South Korea’s SK Planet, a subsidiary of SK Group and operator of major loyalty and commerce platforms, has announced a strategic purchase of MOCA Coin (MOCA) on the open market. The goal: to integrate Moca Network’s decentralized identity infrastructure at enterprise scale.
The deal signals SK Planet’s formal participation in Moca Network’s blockchain-based identity layer—marking a rare instance of a publicly traded enterprise acquiring native tokens of a decentralized ecosystem. By doing so, SK Planet aims to leverage the network’s AIR Account and AIR Identity tools to introduce verifiable credential issuance, zero-knowledge proof-based verification, and interoperable identity controls across its ecosystem of 28 million users and 95,000 merchant partners.
What makes Moca Network’s identity stack valuable?
Moca Network, developed by Animoca Brands, is building a chain‑agnostic, decentralized digital identity (DID) ecosystem. Its AIR Kit suite includes AIR Account, AIR Identity, and AIR Wallet, all designed to facilitate verifiable credentials, user‑managed data, and secure authentication between platforms—without compromising privacy.
SK Planet will embed these tools into its customer and merchant interfaces, allowing partners to request user data with explicit consent, backed by zero‑knowledge proofs. This gives users control over what’s shared, without exposing sensitive personal details—meeting rising global privacy standards while maintaining utility for platforms.
Beyond SK Planet’s own platforms, the data becomes interoperable with other AIR Kit partners, offering cross‑platform compatibility for identity while preserving user privacy.
How does this shift affect token utility and the broader market?
MOCA Coin is the native utility token for the Moca Network. SK Planet’s market purchase is not only symbolic but directly functional—MOCA will be used to reward users via SK Planet’s loyalty program, OKI Club, and facilitate interactions across the AIR ecosystem.
This differs from more speculative Web3 token integrations. MOCA gains real economic utility as a vehicle for:
- •Incentivizing user participation and consent‑based data sharing
- •Powering reward mechanisms via AIR Wallet
- •Supporting staking, token swaps, and other wallet‑native actions
The direct tie‑in with one of Korea’s largest digital commerce operators positions MOCA as a foundational token for the future of verifiable identity in retail, commerce, and loyalty programs.
What’s next: Enterprise DID and reward interoperability
Following the February 2025 launch of OKI Club, which integrates with AIR Wallet, SK Planet will now embed AIR Identity to power deeper credential functionality. Users will be able to:
- •Verify their identities across SK Planet platforms
- •Earn and manage MOCA rewards
- •Engage in token swaps, staking, and other AIR Wallet actions
This enterprise‑grade rollout could serve as a blueprint for other Web2 companies aiming to adopt Web3 frameworks without rebuilding from scratch. For Moca Network, it validates the scalability and commercial readiness of its identity infrastructure.
According to Moca Network’s project lead Kenneth Shek, “SK Planet’s move shows how large consumer platforms can adopt decentralized identity to deliver both privacy and utility.”
SK Planet’s Kyosu Kim echoed this, calling the move “a strategic step forward in aligning with global standards for user privacy and digital identity.”