South Korea seems to be continuously in the news spilling over from last year into this year as it continuously brings in more participants in the cryptocurrency ecosystem.
It is being reported that Kakao, a popular South Korean Internet Company, is getting ready to launch its cryptocurrency payment services across its multiple platforms.
The company, which oversees services such as KakaoTalk, KakaoTaxi, and KakaoPay – that are integral to the everyday user in South Korea, will be integrating cryptocurrency payment options within its KakaoPay service, allowing even non-technological savvy citizens to be able to send and receive cryptocurrencies.
The integration would not just end with the online payment processor KakaoPay, however. Once KakaoPay has the features of cryptocurrency payments available within it, it would allow other integrated Kakao apps to leverage from them as well, creating an ecosystem of cryptocurrency payments amongst its own apps.
As per reports, Kakao aims to roll out the service for KakaoPay within a few months, and hopes that the integration of cryptocurrency payments across various platforms of the company would work towards increasing the adoption of cryptocurrencies in South Korea.
Kakao also aims to roll out its own cryptocurrency, but no definite timeline has been shared for that plan. It is prudent to mention that Kakao also owns a subsidiary named Dunamoo, which runs Upbit, one of the most popular cryptocurrency exchanges in the region.