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Kakao-invested fintech company to test run digital currency exchange

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According to Donamu, UPbit will provide a 24-hour trade service via a PC or a smartphone app. The online exchange will support a dozen online currencies including Bitcoin, Ethereum and Ripple. Top-of-the-line online security technology will be used and technologies from "Kakao Pay", Kakao's digital wallet platform, will protect users from information hacking and cyber-attacks.

http://www.ajudaily.com/view/20170925150347619?utm_content=bufferaa8f9&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer

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Kakao Pay is a MAJOR payments platform on mobile.  This article is from 2015 and talks about 5 million new users...

https://venturebeat.com/2015/09/15/kakao-pay-passes-5m-users-in-its-first-12-months/

:yes3:

We've heard some rumblings about Kakao before, so this announcement is more momentum:

https://www.xrpchat.com/topic/8825-kakao-bank-guys/

https://www.xrpchat.com/topic/8181-ripple-coin-a-big-rumor-in-korea/

 

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19 minutes ago, Hodor said:

Kakao Pay is a MAJOR payments platform on mobile.  This article is from 2015 and talks about 5 million new users...

https://venturebeat.com/2015/09/15/kakao-pay-passes-5m-users-in-its-first-12-months/

:yes3:

We've heard some rumblings about Kakao before, so this announcement is more momentum:

https://www.xrpchat.com/topic/8825-kakao-bank-guys/

https://www.xrpchat.com/topic/8181-ripple-coin-a-big-rumor-in-korea/

 

Trading with kakao including ripple,..so this might be the real deal.

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As discussed, given the scale of Kakao and Korean interest in crypto this is good for XRP, but will likely be especially excellent for the (rumored) 100+ altcoins that will be listed on this exchange. Can see a lot of small-mid market cap coins getting a solid pump once this exchange goes live, assuming we aren't still in a market downturn.

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Often thought how great it is that markets that offer ready access to XRP do a lot of volume (IE South Korea), can't wait for other markets to catch up. Also crossed my mind that it might be easier for new banks/FIs to start with the latest technology than it's been for those established to switch over... it seems the new banks might have a certain competitive advantage. Not that it's easy to start a new bank LOL ;)

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