South Korea’s Kakao To Integrate Crypto Wallet

Amrit Mirchandani

March 19, 2019

Samsung’s integration of a Cryptocurrency wallet will be followed by South Korea’s most prominent internet conglomerate Kakao. Kakao known for KakaoTalk, KakaoPay, KakaoTaxi and many other platforms will integrate Crypto for it’s 44 million users.

KakaoTalk Flexes Cryptocurrency Muscle

A Korean publication fnnews released details from industry executives explaining that the popular chatting platform of KakaoTalk will allow users to run Blockchain applications, and even send, receive and store Cryptocurrencies. Hence users will be in control of making payments, with the touch of a button through the messaging application.

As for Blockchain applications, they will run simultaneously on the chatting platform, like the other mobile games and applications already on it.

Over 80% of the population of South Korea use Kakaotalk and so could be a massive step for Cryptocurrency adoption.

Kakao’s successful $90 million raised through a private coin offering has ensured Blockchain can further be worked upon.

Korea A Leader in Blockchain and Cryptocurrency

South Korea has been taking significant steps towards the digital asset revolution, with not only KakaoTalk exploring Cryptocurrency but also Samsung. Samsung being a South Korean firm known around the world for its smartphone, has recently released the S10 with a Cryptocurrency wallet integrated.

Kakao has its arms stretched in other Blockchain and Crypto investments such as Dunamu which is the operator of Upbit Cryptocurrency exchange.

Mass Adoption of Cryptocurrency

Most of the Cryptocurrency community is working towards mass adoption drives for the digital assets. Ryan Sean Adams, the founder of Mythos Capital, explained it best when he explained the need for devices such as Samsung’s S10 as it will sell almost 40 million units which are 20 times more than the overall quantity of traditional hardware wallets such as Ledger and Trezor sold.

Hence with Kakao having a huge following in South Korea, it will be one of the most sought after news given that the Cryptocurrency enthusiasts are looking for either institutional investors or mass adoption to help get the bulls back in the market!