Korea’s Biggest Messaging App Kakao to Integrate Crypto Wallet For 44 Million Users
According to fnnews, a mainstream financial media outlet in South Korea, Kakao is integrating crypto for its 44 million local users.
Kakao is the biggest internet conglomerate in South Korea that operates KakaoTalk, KakaoPay, KakaoTaxi, KakaoStory, KakaoStock, and many other platforms that have overwhelming dominance in their respective markets.
On March 18, fnnews reported that following the integration of a crypto wallet by Samsung in the form of Samsung Blockchain Wallet, Kakao will integrate a crypto wallet into its messaging app to enable casual users to use digital assets on a daily basis.
“Following the integration of Blockchain Keystore on Samsung, the integration of a crypto wallet by Kakao, which is used by the majority of messaging app users in the nation, is expected to expand blockchain services and usage.”
Why Kakao is Integrating a Crypto Wallet
Local publications have reported that Kakao is estimated to have raised $90 million to develop its own blockchain network called Klatyn and the integration of a crypto wallet into KakaoTalk is one way to introduce their own blockchain network to the public.
Industry executives told fnnews that KakaoTalk “will be used as a crypto wallet,” allowing users to run various blockchain applications and send, receive, and store cryptocurrencies.
