Kakao’s Token Goes Live on South Korean’s Crypto Exchange

The Klay token and South Korean won can now be traded together. Thanks to a South Korean crypto exchange that added it even when the country has not lifted its ban on ICOs.

Kakao, one of South Korea’s finest tech companies has gone ahead to list the KLAY on an exchange company in the country. This is coming days after it added a crypto wallet to their chat app, KakaoTalk.

Coinone thought it could grant Kakao the request of listing its token on its exchange after 100,000 new users registered on KakaoTalk just because of it. Coinone is among the top four crypto exchanges to reckon with in South Korea so this partnership is bound to yield greater results.

ICOs are still not allowed in South Korea

Kakao must have done a lot to make this happen because ICOs are still not allowed in South Korea. The ban also forced them to look outside for help so they found Upbit’s branches in Singapore and Indonesia.

Kakao is not the only company in South Korea with a token. Other similar companies have looked outwards in search of exchanges to partner with.

Kakao’s achievements in the blockchain

Kakao has a blockchain platform called Klaytn. For some unknown reasons, Kakao has not yet expanded its asset-based services which is supposed to be virtual and managed with a reward system.

Plans to combine the chat app with Klaytn wallet started in March 2019. Then, the CEO was proud of his 40 million user base. It must be good news for him now that about 50 million people use the app.

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