South Korea's top mobile messenger operator Kakao Corp. today announced plans to expand its services covering the blockchain technology, Yonhap reported.
Kakao’s primary focus now is to design an effective blockchain platform, similar to Ethereum, onto which various services can be built. With it, it hopes to court Asian developers interested in building new products and services based on blockchain networks.
On Tuesday Kakao announced its new business strategy dubbed ‘Kakao 3.0.’
"Now at Kakao 3.0, we will continue to explore our growth potential by seamlessly integrating services among Kakao companies and actively building presence in the global market," Joh said at a news conference in Seoul.
Kakao will expand beyond its strategic market, Japan, into China and Southeast Asia, the company said.
The messaging giant has launched a new division - Ground X- to start developing a blockchain-powered platform for completion within the year.
As reported by ZDNet, Kakao today refuted the reports on its plans to create own digital currency.
Co-CEO Joh Su-yong also denied reports of an ICO, locally or abroad, and said the firm had no plan to print a so-called "Kakao coin".