South Korea’s top mobile stock trading app is launching a cryptocurrency exchange for bitcoin and ether. Kakao Stock is based on Kakao Talk, the country’s most popular smartphone messenger app with over 200 million users worldwide. Kakao Talk is installed on over 95% of smartphones in South Korea.Kakao Talk-Based Cryptocurrency Exchange
Kakao Stock is South Korea’s top mobile stock trading app, which is based on the country’s most popular smartphone messenger app, Kakao Talk. It was established in February 2014 by fintech company Dunamu Inc. The company reportedly announced on Friday that it is launching a cryptocurrency exchange, according to local publications.
Kakao Talk-Based Stock Trading App Adding Cryptocurrency ExchangeKakao Stock provides real-time stock quotes and stock trading capabilities that are linked to Kakao Talk. Users buying and trading stocks within the app are connected directly to securities companies in Korea as well as overseas. “Kakao Stock allows its users to conduct transactions without paying additional transaction fees besides the existing trading firm transaction fee,” the company detailed.
The upcoming cryptocurrency exchange will be offered through the app only, and will handle a number of widely-traded coins including bitcoin and ether. The company has been building the exchange since June, according to Etoday.
Kakao Stock’s Growing User Base
Kakao Stock has achieved an average monthly user base of 310,000 active users and an average monthly transaction value of 1.2 trillion won (approximately $1.1 billion) since the service launched. The app has surpassed 1.6 million cumulative downloads and has an aggregate turnover of 20 trillion won as of June this year.
The company has established partnerships with a number of top Korean trading firms, including Mirae Asset Global Investments, Kiwoom Securities, Eugene Investment & Securities, Korea Investment & Securities, IBK Securities, KB Securities, Creon by Daishin Securities, NH Investment & Securities, Samsung Securities, and Shinhan Investment Corp.
Source: https://news.bitcoin.com/kakao-talk-stock-trading-app-cryptocurrency-exchange/
