Kakao’s Upcoming Wallet Will Support Native Dapps, Tokens

Kakao‘s coming wallet for its “klay” digital currency will also support blockchain applications and tokens based on the company’s Klaytn blockchain

That is uplifting news for supporters. Less so is that the launch of the wallet—dubbed Klip and to be incorporated in the company’s messaging application, KakaoTalk—has been pushed back to around the first half of 2020, local media reported on December 2. GroundX, Kakao’s blockchain subsidiary, revealed Klip in August, intending to launch by the end of 2019.

With the release of Klip, Kakao’s blockchain subsidiary GroundX will also roll out a standalone of the wallet, Kakao’s co-CEO Yeo Min-soo stated at a meeting of the governance council for the Klaytn blockchain on November 29.

Coming up first, on the other hand, will be a limited-feature browser extension for the wallet, which will provide basic cryptocurrency storing and trading features, the official stated. Dubbed Kaikas, the extension will work with browsers like Google Chrome, Firefox, and Opera, and will target professional crypto clients.

Klip, then again, will be expected to acquaint new clients with blockchain-based administrations, Yeo Min-soo stated. Not only it will support Kakao’s klay token, but also related KRC-20 tokens and blockchain applications, or dapps. Among those will be a technique for signing into social media sites, the report says.

Initially limited toward the South Korean market, the Klip-native applications will be released to overseas clients in the second half of 2020.

Kakao intends to make the wallet application “widely used in everyday life, with klay tokens available directly in KakaoTalk via the Klip wallet,” stated Yeo Min-soo.

Trading and storage of in-game products and non-fungible tokens (or crypto collectibles) will likewise be added to Klip in phases.