Kakao, the company in charge of South Korea’s most popular messaging app, Kakao Talk, has given cryptocurrency enthusiasts a glimpse of its Klip cryptocurrency wallet. Klip is being developed by Kakao’s blockchain subsidiary, GroundX and it’s designed to support non-fungible tokens (NFTs), decentralized applications (dApps) as well as digital assets of projects on Kakao’s Klaytn blockchain network, once it goes live later this year, reports News1 Korea on August 12, 2019.
Klip Crypto Wallet Almost Ready
It appears the crypto ambition of South Korea’s instant messaging and internet giant Kakao is moving on as smoothly as possible, and the firm is now putting the finishing touches to its multi-purpose crypto wallet.
Per sources close to the matter, Kakao has let users take a sneak peek into its Klip digital assets wallet which is scheduled to go live before the end of 2019, by making a simple preview of the app available in its messaging application.
Reportedly, Klip will be the native wallet of Kakao’s blockchain ecosystem and it would support a vast array of applications such as finance, blockchain games, content, and non-fungible tokens (NFTs).
Since the launch of its blockchain network in October 2018, Kakao’s Klaytn has attracted many partners.
In November 2018, Kakao inked a partnership deal with Terra to develop a payments system as well as a stablecoin that would be powered by Klaytn. On December 10, 2018, Klaytn announced its alliance with a good number of blockchain projects, as part of its strategy to boost adoption of its platform.
Now, the Kakao team has revealed that in addition to functioning as a secure purse for storing Klaytn tokens, Klip wallet will also support the altcoins of Kakao’s partners who have built their projects upon the Klaytn blockchain network.
The screenshot of Klip wallet released by the firm reportedly includes logos of several members of the Klaytn ecosystem including Airbloc, Pebble, and Spin Protocol.
The team says Klip wallet is designed to provide secure storage of cryptoassets, as well as superfast fast transactions that would make life easier for Kakao’s 50 million users and it will be integrated straight into Kakao’s messaging app, KakaoTalk.
“Klip wallet has released a teasing site ahead of the launch in the second half of 2019. The service will offer security, speed, and ease-of-use,” declared an official of the project.