Kakao’s Crypto Wallet Draws 100K+ Users in a Day

South Korea based Kakao stated that its latest cryptocurrency wallet facility has received very good response, with over 100,000 registrations in a single day in its chat app, KakaoTalk. The facility went live on June 3.

As per the internet behemoth, KakaoTalk’s Klip was rolled out championing 11 cryptos. Almost 90% of the country’s population presently utilizes the chat app, and the company trusts to lure them into the crypto domain.

Klip is a mobile wallet that paves way for users to handle virtual assets such as TEMCO, Klay (KLAY), Insurium (ISR), PIBBLE (PIB), BOX, HINT, Pixel (PXL), ENT (ATT), Pet (BPT), Binz (BNS) and Cosm (COSM). The jump in user registrations accounts for 2% of KakaoTalk’s entire 50 million users.

Ahead of launch, Ground X, Kakao’s blcokchain associate, and the prevailing administrator of the Klaytn blockchain network, disbursed 50 Klay tokens to thousands of early-bird wallet operators as a reward to try the latest crypto features.

Han Jae-sun, Ground X’s CEO, commended on the announcement:

“It’s a great surprise, and I am very grateful for the public’s incredible interest and support.”

The CEO of Ground X wants to build a positive image among South Koreans towards cryptocurrency, underlining that the idea of digital assets is largely “unfamiliar.”

Key initiatives have been taken by Kakao to advance blockchain technology across its product offering. Last year, the company’s CEO Yeo Min-soo, asserted that his company Klaytn blockchain is comparable to Facebook’s Libra, barring that it is miles ahead in development.

Kakao’s intention to incorporate Klaytn wallet in its chat messenger was first announced in March 2019, when the CEO underlined the benefits that can be experienced by 40 million users.