SK Telecom plans to offer a digital crypto wallet for its users, Forkast reported. The South Korea-based telco has named AhnLab Blockchain Company and Atomrigs Labs as its partners for the project.
Having captured nearly 50% of South Korea’s mobile communications users in 2021, this service will allow its audience to transfer and receive cryptocurrency, NFTs, and soulbound tokens.
The firm has already made strides in the Web3 industry with Ifland metaverse, which sees 1.1 million active users each month.
With nearly 5.6 million people or approximately 10% of South Korea’s population being involved in crypto, the local industry reached US$45.9 billion in value last year.
SK Square, the IT investment arm of SK Telco’s parent company, is also working on creating a proprietary cryptocurrency to fit into this digital ecosystem, which will launch by the end of this year.
See also: A who’s-who of projects facing frostbite in the crypto winter
Editing by Samreen Ahmad and Lorenzo Kyle Subido
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