Kakao Pay completes proof of concept for stablecoin wallet technology

Kakao Pay has completed a proof of concept for technology to build a digital asset wallet for stablecoins and other assets, The Today reported. The project focused on expanding its existing Kakao Pay Money wallet, used by 43 million people, into an integrated digital asset wallet capable of storing blockchain-based onchain assets. The company also verified technology needed for digital asset transfers, payments and settlement in a high-traffic environment, and built a user interface.