[New Crypto Rumor] Korean Internet Kingpin, Kakao, To Support A Crypto Wallet In KakaoTalk App

Rumor: South Korean Giant Kakao Wants To Integrate Message App And Crypto Wallet

It looks like one of the largest internet corporations of South Korea, Kakao, was recently reported to be planning the integration of its crypto wallet service into KakaoTalk, the messaging app of the company.

The story was reported by Cointelegraph, which affirmed that the more than 44 million users of the KakaoTalk service will now be able to send P2P transactions using their wallets, which will be fully integrated with the messaging service. The rumor was originally reported by Fn news. Kakao has not officially announced the integration yet.

According to the reports, Kakao will integrate the two apps after the launch of Klaytn, its new blockchain commercial service, which was created by Ground X, a subsidiary of Kakao. Klaytn will be commercially launched at the end of June this year, Fnnews reported.

Kakao Is Investing In The Blockchain

There are reports that Kakao is ready to invest more than $57 million USD in new technologies that include the blockchain. Another point that the company is ready to invest in is artificial intelligence, which is also very important for Kakao’s plan.

The subsidiary of the company, Ground X, has recently made an Initial Coin Offering (ICO) and raised over $90 million USD, a clear sign that these companies really do not lack the funds to invest in more technology.

It is important for Kakao to offer these new services as crypto wallets since a lot of companies are starting to focus on this niche. Samsung, for instance, has recently released its new Galaxy S10, which has Ethereum (ETH) and Bitcoin (BTC) wallets built within it. The phone will also store private keys if the owner wants it.

Even Facebook is allegedly starting its own crypto and wallet, so Kakao simply cannot be left behind if it wants to have some success in the next decade.


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