Kakao’s Coming Crypto Wallet ‘Klay’ Will Support Blockchain Apps
Kakao’s Coming Crypto Wallet ‘Klay’ Will Support Blockchain Apps
December 3, 2019
Kakao’s Coming Crypto Wallet ‘Klay’ Will Support Blockchain Apps
Kakao’s Coming Crypto Wallet ‘Klay’ Will Support Blockchain Apps
December 3, 2019

Kakao‘s coming wallet for its “Klay” cryptocurrency will also support blockchain apps and tokens based on the firm’s Klaytn blockchain.

On December 2, it has been reported by CoinDesk Korea that the release of the wallet, called ‘Klip’ to be included in the firm’s messaging app, KakaoTalk, which has been pushed back to sometime in the first half of 2020.

However, GroundX, Kakao‘s blockchain subsidiary, announced ‘Klip’ in August, with the plan then being to launch the product by the close of 2019.

Yeo Min-soo, the Co-CEO of Kakao, said at a meeting of the governance council for the Klaytn blockchain on November 29 (Friday), that with the launch of Klip, GroundX will also launch a standalone version of the wallet.

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Likewise, the executive said that a limited-feature browser extension for the wallet which will offer basic crypto storing and trading features will be coming up first. The extension, known as Kaikas, will work with browsers such as Google Chrome, Firefox, and Opera, and will be aimed at more experienced crypto users.

On the other hand, the report indicates that Yeo Min-soo said that Klip will be aimed to introduce new users to blockchain-based services. It will support not only Kakao‘s Klay token but related KRC-20 tokens and blockchain apps, or DApps. Among those will be a method of logging into social media sites.

Initially restricted to the South Korean market, the Klip-native applications will be opened up to overseas users in the second half of 2020.

Yeo Min-soo said:

“Kakao aims to make the wallet app widely used in everyday life, with Klay tokens available directly in KakaoTalk via the Klip wallet.”

Yeo Min-soo

Thus, trading and storage of in-game items and non-fungible tokens or crypto-collectibles will also be added to Klip in stages.

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Source: coindeskkorea.com | coindesk.com


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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.