April 21, 2024

SK Telecom Announces Web3 Wallet for Cryptocurrencies and NFTs

South Korean telecom giant SK Telecom will release its own Web3 wallet for interacting with cryptocurrencies andnon-fungible tokens (NFTs). This is stated in the press release.

According to the announcement, users will be able to store, send and receive digital assets. Blockchain firms AhnLab Blockchain Company and Atomrigs Labs are involved in the development of the solution.

SK Telecom noted that the largestthe challenge for scaling the blockchain ecosystem “is the personal wallet.” In this regard, the company sees the need for a single tool to improve security and convenience.

SK Telecom Announces Web3 Wallet for Cryptocurrencies and NFTs

SK Telecom Announces Web3 Wallet for Cryptocurrencies and NFTs

Data: SK Telecom.

SK Telecom is also working on its owncryptocurrency and governs the Ifland metaverse. As of 2021, the telecom giant served 47% of mobile network subscribers in South Korea, according to KISDI.

Previously, SK Square, the investment arm of SK Telecom, invested 90 billion won (~$75 million at the time) in the Korbit bitcoin exchange.

Recall that in February 2022, the telecom giant, through its branch, demanded that portfolio companies be present in the metaverse.

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