50 Million-user KakaoTalk Chat App Crypto Wallet Launches Today

By stvleong | Steven Leong | 3 Jun 2020

South Korea's Kakao Company, the operator of the KakaoTalk chat app, says its long-awaited crypto wallet Klip debuts today – in theory providing immediate access to cryptoassets for most of the world.


KakaoTalk claims to have around 45 million active monthly users in South Korea (87 per cent of the total population of the country), with up to 5 million residing overseas. The wallet, called Klip, will be available in the KakaoTalk app as a tab – which has e-banking and e-pay tabs already.

South Korean media outlets have reported the wallet would allow KakaoTalk users to opt-in to Klip, allowing them to "store and share different digital properties."

Many claim the wallet would allow users to send and receive tokens – potentially creating millions of new users of the crypto.

Whether this would be a full-blown crypto exchange platform is uncertain, or which tokens it will manage, while Kakao is almost certain to mention its Klay token – the native coin of its blockchain network Klatyn.

Per Yonhap, an official from Kakao 's blockchain subsidiary GroundX, reported that it would release the Klip crypto wallet today.

Meanwhile, Klaytn said yesterday in a tweet that a "public announcement" was coming, and that Klip will allow clients to "experience digital assets."

One of the main competitors for Kakao is the search engine giant Naver, the maker of the Line chat app. While Line has made very few domestic market inroads, it's been a roaring success in Japan – where it launched its own licensed crypto exchange and wallet service, Bitmax, which is also connected to its chat app.


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I'm a Digital Marketing Lead | Crypto Trader | Affiliate Marketer and love to write posts related to crypto and anything that is interesting.

Steven Leong
Steven Leong

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