Local tech company expanding into the cryptocurrency market
Posted May 26, 2017 12:11:22 PM.
This article is more than 5 years old.
A Waterloo based tech company is expanding into the growing cryptocurrency market.
Messenger app Kik is launching a new online currency they are calling Kin.
Kik is attempting to make cryptocurrency mainstream.
Right now it is something that few people really understand and even fewer people use.
Kik has over 300 million users and founder Ted Livingston says they can bring crypto currency to the non-tech community.
“Kik has both the resources the experience and the user base to really make this happen.”
According to BetaKit news editor Jessica Galang, one of the factors Kik has working for it is their young consumer base who are not scared by the idea of using a cryptocurrency.
“Kik is popular with millennials and teenagers, so for a new generation that is highly mobile and really comfortable and this a great step in getting a new population into cryptocurrency that is often seen as inaccessible to most people outside the tech space.”
Kik was founded in 2009 by a group of University of Waterloo students, the company has raised $120 million in venture capital since its founding.
