Tag Archives: Kakao

Bittrex Will Remove 82 Tokens Due to Lack of Liquidity

Bittrex, one of the largest cryptocurrency exchanges which also powers UpBit, South Korea’s second biggest exchange operated by Kakao subsidiary Dunamoo, has stated that it will remove 82 tokens from its trading platform. “Occasionally, there are circumstances that lead Bittrex to remove a coin’s wallet or market from the Bittrex Exchange,” said the Bittrex team. “We will be removing the wallets included in the list below on March 30, 2018. Once these wallets are removed, we will no longer be able to recover these coins. Users must withdrawal their coins before March 30, 2018, in order to keep them.” Continue reading Bittrex Will Remove 82 Tokens Due to Lack of Liquidity

South Korea’s Kakao to Integrate Cryptocurrency For 12,000 Merchants

Asia Business, an influential finance-focused media outlet in South Korea, has reported that Kakao, one of the two largest internet companies that operate KakaoTalk, KakaoPay, KakaoStory, KakaoTaxi, and a subsidiary company which runs major cryptocurrency exchange UpBit, will integrate cryptocurrency within 2018. An exclusive coverage released by Asia Business revealed that Kakao’s fintech application KakaoPay, which registered 3 million users within its debut month, will integrate cryptocurrencies into its local application to allow users to send and receive cryptocurrencies. Kakao is also planning to launch its own cryptocurrency, similar to the model of Binance’s Binance Coin, within this year. Once KakaoPay integrates cryptocurrencies like bitcoin and Ethereum, all the other Kakao apps would become compatible with cryptocurrency payments. If Kakao pursues its plan to integrate cryptocurrencies into KakaoPay by the end of 2018, millions of KakaoTaxi, KakaoTalk, and other Kakao applications will soon be able to utilize cryptocurrencies.

Reference: https://www.ccn.com/south-koreas-kakao-integrate-cryptocurrency-12000-merchants-millions-users/

Kakao To Launch Blockchain Subsidiary

Kakao, the service provider for major South Korean mobile messaging app KakaoTalk, will be establishing a Blockchain subsidiary tentatively named “Kakao Blockchain” and is considering launching an Initial Coin Offering (ICO), Huffington Post Korea reported today, March 5. Jae-sun Han, a partner and Chief Development Officer of tech startup incubator Future Play, will be the representative of the new organization. The concrete business plan for the Kakao Blockchain subsidiary will be introduced on March 20, according to Huffington Post Korea. Since it is currently illegal to run an ICO based in South Korea, Huffington Post Korea writes that the ICO for Kakao would be located abroad, most likely in Singapore or Hong Kong. The hypothetical “Kakao Coin” could then be used as a native currency on various Kakao-provided apps, like KakaoTalk, Kakao Driver, and Kakao Games.

Reference: https://cointelegraph.com/news/popular-s-korean-chat-app-operator-kakao-to-launch-blockchain-subsidiary