Popular S. Korean Chat App Operator 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.

The concrete business plan for the Kakao Blockchain subsidiary will be introduced on March 20, according to Huffington Post Korea.

Rumors of an all out cryptocurrency ban in South Korea caused the crypto markets to drop severely in January 2018. Since then, the government has clarified that there is no planned crypto ban.

(www.cointelegraph.com)