Kakao’ Token Listed on Korean Exchange

Tech giants from South Korea, Kakao, listed their very own Klayton blockchain-issued Klay (KLAY) token via a local cryptocurrency exchange on the 5th of June, 2020.

The move is substantial for Kakao, since that initial coin offerings, or ICOs, still remain prohibited in South Korea. This required the company to list KLAY in Singapore and Indonesia-based divisions of local exchange, Upbit.

Given Seoul’s position on the cryptocurrencies marketplace, numerous companies in the nation have been looking for associates abroad to promote their tokens on exchanges.

After recordkeeping over 100,000 users thanks to their new crypto-related structures and features, Tech M reports that Kakao reached a contract with Coinone to list its KLAY tokens. A Klay-South Korean won pairing is now live trading in one of the top four crypto exchanges in the country.

The internet giant’s plans to integrate the Klayton wallet in its messenger app date back to March 2019. At the time, the CEO emphasized the latent within his, 40 million user pool. The app now boasts approximately 50 million users.

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