Kakao Plans to Launch Crypto Wallet in the First Quarter of 2020

Kakao’s Co-Chairman, Yeo Min-soo, said that the company is planning to launch its cryptocurrency wallet called Klip in the first quarter of 2020 in his speech during the Klaytn Governance Council Summit in Seoul. Klip will allow users to store their Klay, Klaytn cryptocurrency, and Klaytn-based cryptocurrencies, which will be available for use in various ways in their daily lives.

Yeo Min-soo, said that the company would strongly back the popularization and advancement of blockchain-based services through the development of Klip.

"We will actively support Klip so that people can keep their Klay in the wallet and use the cryptocurrency in their daily lives," he emphasized.

He also indicated that the company equally has its eyes on the development of other blockchain applications and services.

"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," he noted.

According to the report, Klip will be released first in the form of “Kaikas” the first half of 2020  was introduced at the summit for the first time. The wallet is being developed by GroundX, Kakao’s blockchain unit, as a digital asset management wallet. First, the wallet is going to be provided through the KakaoTalk “More” tab. plug-ns before it will be extended to KakaoTalk Klip.

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