Home News South Korea Free Mobile Instant Messaging App KakaoTalk to Get Crypto Wallet

South Korea Free Mobile Instant Messaging App KakaoTalk to Get Crypto Wallet

TL;DR: Seoul-based Financial News reported South Korean giant Kakao is set to include the Samsung Galaxy S10 cryptocurrency wallet within its free mobile instant messaging application, KakaoTalk, potentially exposing crypto to millions of daily users.  

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Free Mobile Instant Messaging App KakaoTalk to Get Crypto Wallet

It has been a busy two weeks for South Korean internet jack-of-all-trades giant, Kakao. Its AI was picked up to be placed in coming Hyundai Sonatas, the company struck a deal with local taxi services, and it raised a cool $90 million in its own private token offering.

If all that wasn’t enough, reports are claiming its poplar messaging app, KakaoTalk, is set to have the Samsung Galaxy 10 wallet integrated, and “will be used as a crypto wallet” (Google translate had a rough time). The move is expected as a way to tie-in with its private token offering, and could allow users to store, receive, and send crypto.

South Korea Free Mobile Instant Messaging App KakaoTalk to Get Crypto Wallet

It just might become its own self-contained economic universe, as experts imagine the messaging app switching between games and other apps within. There is also talk of Kakao incorporating its token, along with a proprietary crypto wallet. Nothing has been formally announced by the company, but such rumors can be assumed to be a response to the widespread belief Facebook might be approaching a similar model with WhatsApp.

KakaoTalk is deeply embedded in modern South Korean culture. Estimates range in terms of users, but Statistica claims the app alone has hundreds of millions of accounts and more than 40 million monthly active participants. The Samsung crypto rollout was a public relations success in some ways, but also elicited disappointment when the phone didn’t include other crypto beyond Ethereum.

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