Korean Internet giant Kakao confirmed that work on the blockchain branch, however denied the rumors about the launch of the ICO.

Kakao Talk will launch a blockchain platform

The operator of Korea’s biggest messenger, Kakao Talk, announced the creation within the company departments, developing a platform on the blockchain, which is scheduled to launch during the year. The new product will be aimed at mobile application developers.

Blockchain branch of the company, Ground X, also plans in future to integrate multiple blockchain services with existing Internet offerings Kakao.

Kakao co-heads, E Min-soo, Cho Yoon:

“Kakao now in 3.0 we will continue to explore our growing capacity through seamless integration of services among the companies of Kakao and build a presence on the world market”.

Kakao Talk will not hold ICO Kakao Coin

In addition, today were denied the information that allegedly Kakao aims to launch its own cryptocurrency for Kakao Coin distributed through the ICO outside of Korea.

As ZDNet reports, Cho Yoon denied the information about the launch of ICO inside South Korea and abroad. The Republic of Korea banned the ICO in September 2017.

Kakao had previously been involved in the launch of the South Korean cryptocurrency Upbit exchange, messengerby integrating their services into the trading platform.