- Kakao has over 44 million active users and is South Korea’s largest internet conglomerate.
- Kakao has raised an estimated $90 million to develop Klatyn, their own blockchain network.
South Korea’s biggest messaging app, Kakao is integrating a crypto wallet that will allow users to use crypto on a daily basis. Kakao has over 44 million active users and is South Korea’s largest internet conglomerate, operating not only KakaoTalk, but KakaoPay, KakaoTaxi, KakaoStory, KakaoStock, and many other platforms that dominate the space they’re in.
Kakao has raised an estimated $90 million to develop Klatyn, their own blockchain network. Their plan is to migrate Kakao’s existing platforms onto the blockchain, the first of which will be KakaoTalk. The integration of a crypto wallet into KakaoTalk will be a way to introduce Kakao users and the general public to Klatyn.
According to an industry executive familiar with Kakao’s cryptocurrency integration:
“Kakao needs a cryptocurrency wallet for users of Klaytn and the best way to roll out the service is to integrate a crypto wallet into KakaoTalk, which over 80 percent of the population of South Korea use to communicate.”
Heslin Kim, CEO of Blockchain ROK, spoke of the mainstream potential of this integration:
“The fact that one of the most widely adopted apps [KakaoTalk], with over 95% market share, is publicly promoting and spreading blockchain/crypto is tremendous for mainstream adoption. Connect the dots with the market share and total population. With Samsung’s S10 and now Kakao’s wallet we can continuously expect Korea to be at the forefront of the DLT disruption.”
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Recommended Content
Editors’ Picks
Binance CEO calls CFTC suit “disappointing” as district court halts Voyager $1 billion sale to Binance.US

Voyager’s deal with Binance’s United States entity, Binance.US, faced another hurdle on March 27, the same day that the Commodity Futures Trading Commission (CFTC) went after the crypto exchange. This is the second time in the span of a month that Voyager’s deal has been objected against by the government.
90% of Ethereum supply leaves exchanges as regulators struggle to classify ETH as Security or Commodity

Ethereum is known not only as the second-biggest cryptocurrency but also as the second-generation cryptocurrency. The blockchain not only brought Decentralized Finance (DeFi) to the crypto space but also framed a target on its back following its Proof of Stake transition plan.
This is how EOS holders responded to the network's EVM testnet launch, what to expect this week

The first milestone on the EOS Network Foundation’s roadmap, the completion of the EOS EVM (Ethereum Virtual Machine) code, was achieved on March 22, starting the countdown to the launch of the EOS testnet. Well, it is finally here and the community is elated as it brings them closer to the mainnet release on April 14.
XRP price recovers above $0.44 as court ruling approaches, will Ripple win against the SEC?

XRP price has kept its momentum, flashing green on the one-day timeframe as the countdown to the Ripple vs SEC lawsuit continues. The remittance token is moving in tandem with our prediction last week, soaring by a significant margin to secure a place among the best-performing cryptocurrencies on a one-week timeframe.
Bitcoin: Should you trust this BTC sell signal or wait for $34,000?

Bitcoin price shows a clear picture of its rally after it breached a long-term bullish pattern in mid-January. As the rally takes a breather, sell signs have started to emerge, which is putting investors in a confused state.