South Korea’s Kakao is looking to list its cryptocurrency on an exchange but it may not be able to list the token domestically, according to a report from News1, a Korean news service.
While the company is now looking at two exchanges for the possible trading of Klay—one in China and the other in Korea—the government may prevent it from choosing a platform in the home country. News1 quoted an anonymous official as saying that Kakao is just too big to ignore and that it would be difficult to allow the trading.
Messaging app giant Kakao – which launched its own blockchain in June – has said it plans to release a cryptocurrency wallet dubbed “Klip” later this year.
The firm posted a teaser page to the “More” tab in its KakaoTalk app on Aug. 12, according to a report from CoinDesk Korea, offering a few details of the planned product.
Developed by Kakao’s blockchain affiliate GroundX, Klip will be a digital wallet that manages user information and digital assets.