South Korean company Kakao launches cryptocurrency in your business

South Korean company Kakao reports about the implementation of cryptocurrency for its platform: music application Kakaomusic, mobile service Kakaostyle, app for instant payments Kakaopay, the app for taxi KakaoTaxi application for instant messaging, KakaoTalk and mobile banking Kakaobank.

This decision was made because of the success of the trading platform Upbit created daughter Kakao Dunamu Inc. It is considered the largest cryptocurrency exchange in South Korea, one of the three leading world markets. As reported by local sources, the average daily trading volume Upbit estimated at 5 trillion won (about 4.7 billion dollars).

«We are discussing the introduction of crypto-currency business, including ICO, through its subsidiaries. More specific announcement will be published on 20 March,» officials at Kakao.

It is reported that Cocoa is also considering creating its own cryptocurrency which will be used on all platforms Kakao without a fee.

Company representatives stress that, because the government was opposed to the ICO, it is likely he will spend abroad — in Singapore and Hong Kong.

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