Major South Korean chat app relies on NFT-based stock trading

cocoa, the well-known South Korean chat app, is strengthening its presence in the blockchain and cryptocurrency Partner of a trading platform with non-fungible tokens and their new cryptocurrency wallet Klip.

According to Hanguk Kyungjae, the trading company The Angel League receives support from Kakaos Klip platform for its digital certificates, which are based on non-fungible tokens or (NFT).

Angel League allows investor groups Buy the shares of startups together in the “pre-IPO” phase (or before your IPO). Known as “leading angels”, the members are selected through a recruitment process to include new people who are ready to sign a share purchase agreement to operate on the platform.

Major South Korean chat app relies on NFT-based stock trading
Major South Korean chat app relies on NFT-based stock trading

The trading company then issues a membership confirmation on an NFT-based digital card via Kakao’s Klip crypto wallet.. This is permanently stored on the blockchain platform of the chat app, Klaytn. Members can then trade on the platform with the digital card based on the issued NFT.

Jae-sun Han, CEO of Ground X, the blockchain subsidiary of the chat app, explained the decision to join NFT support:

“By allowing Angel League membership to be verified through Klip’s digital NFT card, we have Reduced operational problems and greater convenience for members. The ability to transfer ownership of the company through Klaytn will also be expanded. Along with the Ground X, we will discover some examples of NFTs that can fuel financial innovation. “

Kakao listed its Klaytn token issued on the Klay blockchain on June 5th via a local cryptocurrency exchange. This message follows At the beginning of the week, a new crypto wallet function was introduced on KakaoTalk.

The announcement of Klay’s listing came after the South Korean company announced it Their new Crypto Wallet feature surpassed 100,000 users in their chat app KakaoTalk in less than a day. The show started on June 3rd.

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