Kakao Talk enlarges its presence in the sphere of blockchain and crypto

South Korea’s well-known chat application, Kakao, enlarges its presence in the sphere of blockchain and cryptocurrency after having partnered with a non-fungible token-powered trading platform and its new crypto wallet Klip.

Based on Hanguk Kyungjae, the trading company Angel League will be supported by Kakao’s Klip platform in frames of production of NFT-based digital certificate.

Angel League allows groups of investors the wholesale purchase of startups stocks in the “pre-IPO” stage. The members the “lead angels,” are selected chosen via recruitment process to allow new people to sign stock trading contract required for platform usage.

Next the company will provide membership confirmation on an NFT-based digital card by means of Kakao’s Klip crypto wallet. It is permanently stored in the blockchain platform of the Klaytn (chat application).

Jae-sun Han, CEO of Ground X, the chat app’s blockchain company affiliate, explained their decision:

“By making it possible to verify the membership of the Angel League through the NFT digital card of Klip, we have reduced operational hassle and strengthened the convenience of members. It will also expand the way to transfer ownership of the company through Klaytn. Together with Ground X, we will discover several examples of NFTs that can promote financial innovation.”

In June, Kakao announced its Klaytn blockchain-issued Klay token by means a local cryptocurrency exchange. It has occurred after the launch of a new crypto wallet feature in KakaoTalk.

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