Thursday, Sept. 26 will see Upbit Indonesia exchange listing Klay – the cryptocurrency issued and maintained by South Korean messaging giant Kakao, as reported today by a Korea Times outlet with a mention that Upbit Singapore is also expected to list Klay at a later date.
KakaoTalk, or sometimes KaTalk, is a free mobile instant messaging application for smartphones, operated by the Kakao Corporation. Kakao’s 90 percent dominance in the Korean market of instant messaging is almost unrivaled. The company started developing its Klay cryptocurrency ecosystem in late 2018. It is based on public blockchain platform Klaytn, which was launched by Kakao’s blockchain subsidiary, Ground X, around the same time.
"We decided to list Klay on cryptocurrency exchanges in the respective countries, as we aim for Klaytn to become an Asia-based platform," - a Kakao official said on the matter.
Ground X is also known to be working in partnership with LG Group, Samsung Electronics, and several other tech conglomerates with the aim of introducing various blockchain solutions and a mobile, Klay-compatible cryptocurrency wallet.