Home News Blockchain Korea’s Biggest Messaging App KakaoTalk Set to Integrate Crypto Wallet

Korea’s Biggest Messaging App KakaoTalk Set to Integrate Crypto Wallet

March 19, 2019 12:31
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Korea’s biggest internet conglomerate, Kakao will be integrating crypto wallet in its messaging app KakaoTalk, for its 44 million local users. According to the report published on a local news publication Fnnews, post integration of crypto wallet to the messaging app, users will be able to undertake peer-to-peer transactions using Kakao’s crypto powered wallet.

As per the report, Kakao is believed to have raised $90 million for the development of its own blockchain network called Klatyn, and integration of the crypto wallet to messaging app is one of the ways to introduce their own blockchain network to the public.

According to the Fnnews, the commercial launch of Klatyn blockchain network is likely to happen sometime around June 2019. Kakao is likely to give users an option to choose if they wish to use cryptocurrency wallet, that means users will have will control over the presence of crypto wallet on the messaging app.

“Kakao needs a cryptocurrency wallet for users of Klaytn and the best way to roll out the service is to integrate a crypto wallet into KakaoTalk, which over 80 per cent of the population of South Korea use to communicate.”

Earlier this month, Samsung also announced the integration of cryptocurrencies to Samsung Pay following the release of the Galaxy S10’s Samsung Blockchain Wallet. The phones will have support for Bitcoin, Ethereum and other two cryptocurrencies

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