KakaoTalk Prepares To Launch Its Cryptocurrency Wallet

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South Korean messaging app ‘KakaoTalk’ preparing to launch its own cryptocurrency wallet “Klip” developed by Kakao’s blockchain subsidiary, GroundX.

The wallet will support the company’s native token “Klay” and support cryptocurrencies issued on its native blockchain “Klaytn”. Kakao’s blockchain partners include Airbloc, Pebble, and Spin Protocol.

Source:
[inlinetweet]KakaoTalk released the crypto wallet ‘Klip’ teasing page on its application. The teasing page can be found in the KakowTalk ‘More’ tab.[/inlinetweet]

KakaoTalk has a global monthly active user (MAUs) of 50.9 million, with MAUs in its key South Korean market around 44.4 million. By integrating Kakao’s cryptocurrency wallet, Kakao plans to create more comfortable and exciting possibilities for its 50.9 million user base to connect and leverage blockchain technology advantages.

[inlinetweet]Using crypto wallet, Kakao users will be able to use services such as finance, blockchain games, etc. The wallet will also support trading of virtual items (or non-fungible tokens).[/inlinetweet]

Recently Kakao reported a strong profit and revenue growth in the second quarter of 2019. As per filing to the Korean Exchange, the company reported a Net profit of $25.5 million, a 38 percent increase year-on-year, advertising sale rose by 22 percent and content revenue increased by 20 percent.

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