South Korean Tech Giant Naver Enters the Crypto Market
South Korean tech giant Naver has partnered with blockchain platform Chiliz to launch its first cryptocurrency wallet—Naver Pay Wallet. According to the company, this new non-custodial wallet could potentially provide over 33 million users with access to digital assets.
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South Korean tech giant Naver has partnered with blockchain platform Chiliz to launch its first cryptocurrency wallet—Naver Pay Wallet. According to the company, this new non-custodial wallet could potentially provide over 33 million users with access to digital assets.
Currently in beta testing, the wallet initially supports the Chiliz blockchain. However, the developers plan to soon add support for other blockchains, integrate DeFi apps, expand the loyalty program, and offer quick access to Chiliz fan tokens.
The Naver Pay Wallet is not aiming to become a typical crypto wallet, but a service around utility and loyalty blockchain technology
said Chiliz founder and CEO Alexandre Dreyfus.
Naver, often referred to as “the Google of South Korea,” operates the country’s leading search engine and boasts the highest monthly traffic, with over 1.7 billion visits. Additionally, the company’s financial division, Naver Pay, supports more than 97,000 merchants across the country.
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