South Korean leading messaging app Kakao will include crypto wallet

18 Mar, 2019
by Alberto Arnaldo
South Korean leading messaging app Kakao will include crypto wallet

According to reports in South Korean finance news site FN News, KakaoTalk, the messaging app offered by the company, will come with an in-built crypto wallet, much like the new Samsung Galaxy S10.

Kakao users will be able to opt-in in order to be able to access the integrated crypto wallet on their messaging app. The benefits of the system could very well extend to other verticals from the group, such as KakaoPay, KakakoStory,KakaoStock or KakaoTaxi, among others.

With this development, Kakao seems to join other pioneering messaging apps such as Telegram or Whatsapp, which are already leading the way in linking the flexibility and freedom offered by digital assets with the ubiquitous presence of this type of apps.

Read more: Facebook's crypto coin could be worth $19 billion in additional revenue

Heslin Kim, South Korea-based CEO of BlockchainROK, said this on declarations to CCN:

“Kakao is representative of South Korea, a country with over 55 million people. It embodies the fast paced, technology driven lifestyle that Koreans adopt so readily. It’s an app so deeply attached to what it means to be Korean”.

The news about the latest crypto integration coming from Kakao arrive just a week after the completion of a $90 million funding round from VC and private equity funds. The money raised will be destined to Ground X, the blockchain unit of Kakao, which is responsible for developing the blockchain platform Klatyn. Scheduled for this upcoming June, it constitutes the perfect partner for the crypto wallet which the company is also developing.

Read more: Kakao raises $90m in private coin offering for blockchain platform Klaytn Messaging company Viber plans to use crypto to challenge WhatsApp and Telegram

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