Kakao Announces New Crypto Wallet Function Surpasses 100,000 Users In Its Chat App
Kakao Announces New Crypto Wallet Function Surpasses 100,000 Users In Its Chat App
June 5, 2020
Kakao Announces New Crypto Wallet Function Surpasses 100,000 Users In Its Chat App
Kakao Announces New Crypto Wallet Function Surpasses 100,000 Users In Its Chat App
June 5, 2020

Kakao, the South Korean company, has announced that its new crypto wallet function surpassed 100,000 users in less than a day in its chat app, KakaoTalk, as the feature went LIVE on June 3.

It has been reported by the Internet giant that KakaoTalk’s Klip was launched with support for 11 cryptocurrencies. Nearly 90% of the country’s population currently uses the chat app, and the company hopes to draw them all into the crypto sphere.

However, Klip is a mobile wallet, which allows users to experience digital assets such as:

  • Klay (KLAY)
  • BOX
  • Pet (BPT)
  • PIBBLE (PIB)
  • HINT
  • ENT (ATT)
  • TEMCO
  • Binz (BNS)
  • Pixel (PXL)
  • Insurium (ISR)
  • Cosm (COSM)

It has been analyzed that the increase in user registrations represents 2% of KakaoTalk’s total number of 50 million users.

Before its launch, Ground X, Kakao’s blockchain subsidiary, and the current operator of the Klaytn blockchain network, offered 50 of its Klay tokens to thousands of early-bird wallet operators as an incentive to try the new crypto features.

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Han Jae-sun, the CEO of Ground X, said:

“It’s a great surprise, and I am very grateful for the public’s incredible interest and support.”

Likewise, Jae-sun wants to create a positive image across the South Korean populations towards cryptos by saying that the concept of digital assets is still “unfamiliar.”

Moreover, Kakao has been taking critical steps for blockchain development across its portfolio, as in 2019, Yeo Min-soo, the CEO of Kakao, claimed that his firm, Klaytn blockchain, is similar to Facebook’s Libra, except it is way ahead in its development.

Thus, the Internet giant plans to integrate Klaytn wallet in its talk messenger dates from March 2019, where the CEO outlined the potential within his then-40 million user pool.

Source: Cointelegraph | Image: Bankrate


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Ishita Bora

Ishita Bora is a Senior Content Creator at Digital Notice Media Labs with an experience of 1 year. She has completed her Master's Degree in Language and Linguistics in 2019 from Gauhati University, India. Her interest lies in blockchain technology and cryptocurrency space, as she loves writing about blockchain and other blockchain-related articles. Currently, she is working on blockchain-based news, reviews, featured articles, and guides.
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