• The Kakao wallet platform will be supporting various decentralized apps and is being developed by GroundX.
  • Kakao will be integrating the wallet within KakaoTalk - its popular messaging platform.

According to a BusinessKorea report, KakaoCorp. is planning to introduce its crypto wallet platform Klip in2020. KakaoCorp is the parent company of a popular South Korean messaging app - KakaoTalk. Yeo Min-soo, co-chairman of the firm, spoke about the company's intention to speed up the development process of its blockchain wallet. This digital assets wallet platform will also be supporting many decentralized apps. Kakao is planning to tap a larger market with its services. 

Yeo said:

Kakao has already launched KakaoCon, a blockchain-based point system, and the company is planning a variety of applications, including the use of blockchain technology for identification software. We will actively support Klip so that people can keep their Klay in the wallet and use the cryptocurrency in their daily lives.

GroundX, Kakao's blockchain unit, was given the task of developing the platform. The firm is planning to deliver the crypto services to its present messaging platform and integrate the wallet within KakaoTalk. 

Yeo added:

Now blockchain has begun to be technically and regulatorily discussed, but blockchain is still lacking in users or applications (apps). There is no killer service, so it is difficult to use in everyday life.


 

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