South Korean messaging app Kakao is set to launch its very own crypto wallet

KakaoTalk, a South Korean instant messaging application is the newest member of the crypto-community as it is set to launch its native cryptocurrency wallet ‘Klip’.

Recently, Kakao’s blockchain subsidiary, Ground X released its own blockchain platform called Klaytn and the latest crypto wallet, Klip, is the result of it. The wallet which is set to be launched later this year is designed to support Klaytn’s cryptocurrency Klay along with several other cryptocurrencies based on the Klaytn blockchain.

The wallet will serve an array of blockchain-based services in various fields like finance, content, and games along with non-fungible token services. An official from Kakao told Korean news portal News1 Korea,

“Klip has released a teasing site ahead of its release in the second half of the year.”

Kakao’s wallet will be available on the KakaoTalk application and can be found in the “More” tab. Klatyn’s food-based blockchain partner, HintChain also endorsed the release through a blog post.

News1 Korea, also reported that previously in March the CEO of Ground X, Han Jae-sun stated that,

“Everyone is focusing on developing power to increase accessibility so that they can easily use the blockchain. We are making efforts to improve efficiency and worrying about cryptocurrency distribution.”