Kakao to Launch its Own Crypto Wallet By the End of the Year
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Aug. 12, 2019
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Popular South Korean messaging app Kakao plans to launch its own cryptocurrency wallet later this year.

According to a Kakao representative, "Klip has just launched a teasing site before the launch of its wallet, which will take place in the second half of the year."

Ground X, the subsidiary of the company specialized in blockchain, is responsible for the development of the wallet. It will support Klay, the company's native token, as well as other cryptocurrencies based on Klaytn, the firm's blockchain.

Klip will initially be included in the Other section of Kakao Talk. Kakao Talk is currently the most popular messaging app in South Korea and offers a wide range of services including messaging, free calls, game downloads directly within the application, walkie-talkie mode, KakaoPay payment service and item Store.

HintChain, a food data market based on blockchain, has confirmed the news and reported it is one of the participants in the project.

In March this year Ihodl reported the company had attracted $90M for the development of its blockchain. The Klip wallet is the result of the investment of these funds.

In July Kakao announced its blockchain is 15x faster than ethereum's.

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