Kakao Stock to launch a new crypto exchange

Authors of Kakao Stock, the securities app that previously added the support of Bitcoin and Ethereum, are now planning to establish a new cryptocurrency trading platform. The list of currencies available for trade is tremendous – over 110 various cryptocurrencies in comparison to 6-8 on existing South Korean exchanges.

As it should be reminded, Kakao Stock is based on the very popular South Korean Kakao Talk messenger and uses the client base of the latter to help prosper the former. Almost 95% of mobile devices in South Korea have Kakao Talk installed. The company representatives, according to the local radio reports, claim that this digital currency exchange is to become the biggest in South Korea – and this becomes much more achievable with this 95% factor.

However, Kakao and Dunamu Inc. (the parent company) will not develop the exchange alone, as technological advancements from the American Bittrex corporation will be implemented. BitGo, the reputable blockchain company, will be responsible for wallet safety measures.