Kakao will launch the Klip crypto wallet and the Klay token
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Kakao will launch the Klip crypto wallet and the Klay token

By Stefano Cavalli - 12 Aug 2019

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Kakao Talk is a free messaging application in Asia, designed and developed in 2010 by Kakao Corporation, which currently counts more than 50 million monthly active users (June 2019). By the end of 2020, Klip, a full-fledged crypto wallet developed by Kakao is expected to arrive.

News1 Korea and HintChain have confirmed the news according to which an official source of the company claims that “Klip will be released in the second half of 2020“.

As often happens in these cases, the crypto wallet was not developed directly by the developers who work on the mobile application but by a subsidiary of Kakao: Ground X. The wallet will support the company’s native token called Klay as well as other cryptocurrencies, which are also based on the Klaytn blockchain.

Klip will initially be added to the Other section of Kakao Talk while the website will be launched today. Kakao Talk is currently the number one messaging application in Korea and offers several services including messaging, free calls, game downloads directly within the app, walkie-talkie mode, KakaoPay payment service and an Item Store, a real online store where users can buy themes, emoticons and much more.

The messaging sector is certainly one of those that is particularly immersed in the cryptocurrency scene. The development of crypto wallets, alongside different tokens, is becoming more and more popular. Telegram has already created its own network, supported by Ton, the cryptocurrency that has already collected a number of private investments.

Even WhatsApp, the largest messaging application in the world with over 1.6 billion active users per month, does not stay to watch and will integrate Libra, Facebook’s cryptocurrency, directly into the platform to allow the exchange of digital resources.

Line, the Japanese giant that counts 80 million active users per month, launched its blockchain LINK last year and is planning, at a later date, the release of an exchange and a cryptocurrency.

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