South Korea’s Largest Mobile Operator to Introduce a Web3 Wallet: Report

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The largest mobile oper­a­tor in South Korea – SK Tele­com – report­ed­ly joined forces with cryp­to firms Ahn­Lab Blockchain Com­pa­ny and Atom­rigs Labs to release a dig­i­tal wal­let. The fea­ture will pro­vide cryp­tocur­ren­cy ser­vices and access to the Web3 ecosystem.

  • Accord­ing to a recent report, users of the wal­let will be able to receive, trans­fer, and store cryp­tocur­ren­cies, non-fun­gi­ble tokens (NFTs), and “soul­bound tokens.” The lat­ter are per­ma­nent, non-trans­fer­able NFTs that ver­i­fy cer­tifi­cates and identifications.
  • The dig­i­tal wal­let will also pro­vide access to the Web3 uni­verse, con­sid­ered by many as the future of the Internet.
  • The mech­a­nism of the dig­i­tal wal­let will be based on the Seoul-based start-up Atom­rigs Labs’ tech­nol­o­gy. For their part, SK Tele­com and Ahn­Lab Blockchain Com­pa­ny will super­vise the oper­a­tion and devel­op­ment of the product.
  • Oh Se-hyeon – Head of the Dig­i­tal Asset Unit of SK Tele­com – believes the online envi­ron­ment will be encom­passed by the Web3 space in the future.

“This joint project of Web3 dig­i­tal wal­let will be a cru­cial start­ing point for SK Telecom’s response to the Web3 mar­ket,” he added.

  • Cheong Woo-hyeon – CEO of Atom­rigs Lab – opined that such wal­lets based on blockchain tech­nol­o­gy are much safer and more con­ve­nient than tra­di­tion­al ones. In his view, the coop­er­a­tion between the three enti­ties will serve as an exam­ple and pop­u­lar­ize the product.
  • SK Tele­com is the largest telecom­mu­ni­ca­tion com­pa­ny in South Korea. It has over 32 mil­lion cus­tomers (near­ly 50% of all mobile com­mu­ni­ca­tion users in the country).

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