SK Planet Elevates Privacy with Moca's Decentralized Identity Tech

SK Planet, a subsidiary of South Korea's SK Group and operator of the country's largest integrated rewards service, OK Cashbag, has announced the purchase of MOCA Coin (MOCA) on the open market to adopt Moca Network's enterprise-grade decentralized identity infrastructure. The initiative aims to integrate Moca Network's technologies-specifically AIR Account and AIR Identity-into SK Planet's ecosystem, enabling verifiable credential issuance, zero-knowledge proof-based verification, and interoperable identity controls for its 28 million users and 95,000 merchant partners. This marks a rare instance of a publicly traded enterprise acquiring native tokens of a decentralized ecosystem for direct integration into its services.

The partnership leverages Moca Network's chain-agnostic digital identity (DID) platform, which provides tools for secure, privacy-preserving authentication and data management. By embedding AIR Account and AIR Identity, SK Planet will allow users to control their data through explicit consent-based sharing, ensuring compliance with global privacy standards while maintaining utility for platforms. Merchants will be able to verify user data without accessing sensitive information, and data generated on SK Planet's platforms will be interoperable with other AIR Kit partners, fostering cross-platform compatibility. MOCA Coin will serve as the utility token for these functions, rewarding users via SK Planet's OKI Club loyalty program and facilitating interactions within the AIR ecosystem.

Kyosu Kim, Chief Business Officer at SK Planet, emphasized that the move aligns with global standards for user privacy and digital identity. "Partnering with Moca Network enables SK Planet to bring decentralized identity and privacy-preserving verification to our millions of customers and merchant partners," he stated. The integration builds on the successful launch of OKI Club in February 2025, which already integrated AIR Wallet, and will expand to include wallet features such as token swaps and staking. Kenneth Shek, project lead of Moca Network, described SK Planet's adoption as a milestone in enterprise-scale data ownership, noting that the partnership validates the scalability of Moca Network's infrastructure.

The collaboration also includes SK Planet's adoption of the Realm SDK, a development platform under Mocaverse (a Web3 platform by Animoca Brands), to deliver Web3 services to SK Planet's KYC-verified user base. This marks SK Planet's first use of crypto tokens in its services, with MOCA Coin designated as the utility token for internet services. The partnership is expected to enhance user engagement through blockchain-based rewards and data management, positioning SK Planet as a leader in integrating decentralized identity solutions in traditional commerce.

Analysts highlight the strategic significance of the move, which could accelerate adoption of privacy-first Web3 infrastructure in Asia. By embedding zero-knowledge proof technology and decentralized verification into its services, SK Planet is addressing growing consumer demand for data privacy while maintaining operational efficiency. The initiative also aligns with Moca Network's vision of creating a global interoperable identity layer, supported by its ecosystem of over 570 Animoca Brands portfolio companies and 700 million addressable users.