Major South Korean Kakao Messenger Considers Launching ICO

March 6, 2018

Representatives of Kakao messenger have reported, they plan founding affiliated company for launching ICO. Business strategy to the project will be presented on March 20.

To date initial coin offering is forbidden in South Korea, so ICO by Kakao will be located either in Singapore or Hong Kong. Moreover, the company’s coin will be used as a currency in Kakao Talk, Kakao Games and other Kakao apps.

Kakao messenger and KakaoPay platform are holding a monopoly it their industries having seized over 9/10 of all South Korean market.

Kakao has become the third large messenger set for implementing cryptocurrency. Remember, quite recently the Japanese Rakuten, the owner of Viber, has announced launching its own cryptocurrency, while ICO by Telegram has been rumored intensively over the last few months.

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