Kakao’s GroundX To Launch Klip Wallet In 2020, Will Store Native Blockchain Tokens And DApps

  • The new wallet from Kakao will be called the Klip wallet, supporting klay and KRC-20 tokens.
  • The South Korean launch is planned for the first half of 2020, while overseas users should have access during the latter half of the year.

The new wallet by Kakao was been delayed a bit, but it looks like the launch is finally coming for consumers. In this launch, the wallet will be supporting the tokens on the Klaytn blockchain, as well as decentralized apps on the blockchain, which is great news for users of the platform. Even with all of this good news, the Klip wallet isn’t planned to be launched until the first half of 2020, just like the firm’s KakaoTalk messaging app.

According to reports from CoinDesk Korea, the blockchain subsidiary of Kakao, GroundX, announced the creation of Klip in August this year. At the time, the wallet was scheduled to launch by the end of 2019. Now, with the delay, an independent version of the wallet is going to launched by GroundX as well, according to co-CEO Yeo Min-soo of Kakao. Min-soo’s comments were made during a meeting for the Klaytn blockchain, involving the governance council.

Before these launches, the platform plans to launch a browser extension for the wallet. While there will be limited features, some of the available capabilities will be in basic storage and trading of cryptocurrency. The extension, which has been named Kaikas, will work on Google Chrome, Firefox, and Opera, among other browsers, but it specifically targets users that are more familiar with the cryptocurrency industry.

The Klip wallet is a little different, in that it targets new users that may be unfamiliar with what they can do in the blockchain-based services, as Min-soo pointed out. Along with supporting the Klay token by Kakao, the KRC-20 tokens and blockchain apps will be supported as well. While Klip was originally planned to just be for the South Korean market, the applications associated with it will be made available to users outside the country towards the end of 2020.

Min-soo explained that the goal of Kakao is to make the app for the Klip wallet “widely used in everyday life, with klay tokens available directly in Kakaotalk via the Klip wallet.” Though the storage and trading of items and non-fungible tokens in games won’t initially be available, the team plans to add these features on in stages later on.

Get Daily Headlines

Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

What to Know More?

Join Our Telegram Group to Receive Live Updates on The Latest Blockchain & Crypto News From Your Favorite Projects

Join Our Telegram

Stay Up to Date!

Join us on Twitter to Get The Latest Trading Signals, Blockchain News, and Daily Communication with Crypto Users!

Join Our Twitter

Add comment

E-mail is already registered on the site. Please use the Login form or enter another.

You entered an incorrect username or password

Sorry, you must be logged in to post a comment.
Bitcoin Exchange Guide