Report: Korean Messaging App KakaoTalk Plans to Add Crypto Wallet
South Korean internet company Kakao is reportedly working on integrating a crypto wallet into its messaging app, KakaoTalk, for its more than 44 million active users.
According to a report by South Korean media outlet fnnews, the move by Kakao is in response to the recent announcement by Samsung that it would be adopting a crypto wallet for that Galaxy 10 that supports numerous altcoins.
“Following the integration of Blockchain Keystore on Samsung, the integration of a crypto wallet by Kakao, which is used by the majority of messaging app users in the nation, is expected to expand blockchain services and usage,” reads the translated report.
Kakao’s interest in crypto does not come as a major surprise, as the company previously indicated that it is developing its own blockchain network called Klaytn (“Clayton”). While the technical specifics of the wallet functionality have yet to be revealed, and Kakao reps haven’t confirmed the wallet’s actual existence, industry executives told fnnews that Kakao is considering an opt-in method that will allow users to access the wallet and other blockchain services directly in their KakaoTalk app.
Given that the majority of South Korea uses KakaoTalk to communicate, this is one of the more significant pieces of adoption news in Asian markets in recent weeks.
Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.