South Korean company Kakao, the operator of popular services KakaoTalk, KakaoPay, KakaoStory, KakaoTaxi will work with cryptocurrencies this year. About it reports South Korean publication Asia Business.
Note, the application for instant payments KakaoPay very popular in Asian countries: in the first month of operation it registered 3 million users. The success of the service is largely due to the fact that Kakao provides loans and virtual Bank accounts to conduct transactions, regardless of their size. Moreover, smart phones in South Korea are sold with pre-installed apps Kakao.
After the integration of virtual currencies in KakaoPay, all other Kakao apps, including KakaoTalk and KakaoTaxi, which regularly uses more than 90% of the population will also start to support cryptocurrency payments.
The publication also confirmed previously appeared information about the fact that Kakao plans for years to launch its own cryptocurrency KakaoCoin that will work on the same model that Binance Coin exchange Binance.
We will remind, last year a subsidiary company Kakao launched Dunamoo UpBit, is the first stock exchange in South Korea, working only with the cryptocurrency. Within a few months UpBit entered the top-5 of cryptocurrency exchanges on the market.
Experts believe that the success of the exchange UpBit and the growing demand for crypto-currencies from local investors prompted the company to focus on technology. It is noteworthy that many of the local cryptocurrency companies already cooperating with major e-Commerce platforms and retailers to integrate cryptocurrencies into their payment infrastructure.
For example, South Korean’s leading platform for booking hotels Yeogi together with the country’s largest stock exchange Bithumb working on the integration of cryptocurrency payments. On cooperation with the stock exchange recently announced another service according to the hotel search and booking With Innovation Corp, announced the start of accepting payments in 12 currencies.
In addition, she Bithumb started to open cryptocurrency “booths” in many restaurants, cafés and chain stores to the people of South Korea could use the cryptocurrency for daily everyday operations.
We will remind, earlier plans to create its own cryptocurrency Gram reported, the popular messaging app Telegram, collecting a record $850 million during the pre-ICO and messenger Kik already uses its own cryptocurrency.
Also in February it became known that the company plans to integrate Line crypto services with your messenger.