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Global chat platform Kik to launch digital currency

NEW YORK: Kik Interactive, which created the chat platform Kik, said on Thursday it was launching a crypto-currency or token called Kin that would enable customers to use a whole range of digital services. Kik is a free chat and messaging application founded in 2009 and built for teenagers, with about 300 million registered users. The Kin token will be created on the Ethereum blockchain, another online public ledger much like that of bitcoin, the original digital currency. A sale of the token will be slated some time…

German retailer to pay $5.15m to Baldia factory fire victims

KARACHI: German discount clothes retailer KiK has agreed to pay another $5.15 million in compensation to victims of one of Pakistan's worst-ever industrial accidents, the company said in a statement. The sum will come on top of the $1 million (890,000 euros) KiK paid out in late 2012 in the wake of the devastating fire at the Ali Enterprises factory in Karachi that killed at least 255 people, the company said. "KiK has voluntarily taken on responsibility for those affected, because this aid was a real concern for us,"…