Kakao Corp., a South Korean Internet giant, is almost set to unveil its cryptocurrency wallet dubbed “Klip” and has launched a teaser introduction page for the wallet, according to the report by New 1 Korea.
Kakao’s Klip is a crypto wallet developed by the corporation’s blockchain subsidiary known as GroundX. The wallet will be for using and storing the Kakao cryptocurrency “Klaytn,” earned through online activities.
The internet company hopes to support a lot of services through its proposed crypto wallet, including service in finance, content, and games based on blockchain. There will also be provisions for non-fungible token (NFT) services used in trading goods in the game, per the report.
The development is an effort by the company to improve the efficiency and address the issues encountered on cryptocurrency distribution, according to Han Jae-sun, CEO of Ground X.
Additionally, Klip is said to host support for cryptocurrencies of other partners issued on Klaytn basis, as the teasing page currently displays logos of Klaytn (Kakao Mainnet) partners. This includes Airbloc, Spin Protocol, and Pebble.
The Klip’s teasing page can be found on as part of the “More” tab on its messaging app KakaoTalk – the platform which the crypto wallet will be integrated.
Klip function will be added to KakaoTalk so that users can easily access and utilize the wallet without installing a different application (app). The effort is seen as a strategy to increase the accessibility of 50 million users (both domestic and foreign) secured by Kakao.
As confirmed by an official from Kakao, “Klip has released a teasing site ahead of the launch in the second half of the year,” with the unnamed official adding that they “planned the service for security and speed as well as easy to use.”
While commenting on the reason behind the development, Han Jae-sun said: “Everyone is focusing on developing the power to increase accessibility so that they can easily use the blockchain.”