South Korean tech company SK Telecom has just announced it intends to launch its own Web3 wallet for interacting with cryptocurrencies and NFTs.
According to the press release shared by the company, users will be able to store, send and receive digital assets.
Notably, blockchain firms AhnLab Blockchain Company and Atomrigs Labs are involved in the development of the solution.
SK Telecom has said the biggest challenge to scaling the blockchain ecosystem "is a personal wallet." In this regard, the company sees the need for a single tool to improve security and convenience.
Subscribe to our Telegram channel to get daily short digests about events that shape the crypto world
The company is also developing its own crypto and is running the Ifland metaverse. As of last year, the telecom giant offered its services to 47% of mobile network subscribers in South Korea.
SK Square, the investment arm of SK Telecom, has previously invested around $75 million in cryptocurrency exchange Korbit.