Kakao, the creator of Korea’s most popular messaging app, KakaoTalk, is reportedly making plans to integrate its proprietary cryptocurrency wallet into the messaging app and enable users to store their cryptoassets more easily, reports local news source, Fnews on March 18, 2019.
Just Like Samsung
South Korea’s love for cryptocurrency and its underlying distributed ledger technology (DLT) knows no bounds indeed.
As reported by BTCManager earlier in February 2019, South Korea’s multinational conglomerate, Samsung equipped its latest Galaxy S10 premium smartphone with its highly secure proprietary “Samsung Knox” system to enable users to store their private keys and digital assets securely.
Fast forward to March 2019 and rumors are rife that Kakao is making serious plans to integrate a native crypto wallet into its messaging app, KakaoTalk.
Per the report, if all goes as planned, the entire 44 million users of the KakaoTalk messaging app will be able to carry out peer-to-peer cryptocurrency transactions straight from their smartphones with the crypto wallet.
Though the report failed to state a specific timeframe for the launch of the crypto wallet, it has however hinted that the firm will integrate the wallet into KakaoTalk once the Klatyn Mainnet is launched.
For the uninitiated, Klatyn is the blockchain platform created by Ground X, Kakao’s DLT subsidiary in October 2018.
In December 2018, BTCManager informed that Klatyn had inked a strategic partnership deal with numerous blockchain projects, including Atlas, a local travel content and transaction platform created by Chinese luxury travel firm called Zanadu.
“Together with our service partners, Klatyn will take the blockchain industry to the next level by focusing on creating meaningful real use-cases, which stands as the next key challenge in our industry,” Ground X CEO, Jason Han said at the time.
Kakao Crypto Ambition
While the Kakao team has yet to release an official statement concerning its crypto wallet move, its recent endeavors in the cryptospace suggest the South Korean conglomerate may be harboring significant crypto plans.
Earlier in March 2019, reports emerged that Kakao’s VC arm, Kakao Ventures had invested an undisclosed amount in Terra, a blockchain-based payments platform.
In related news, on March 11, 2019, BTCManager informed that Kakao had announced plans to raise $90 million via a fresh funding round, after previously raising the same amount.