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

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


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).

Featured Image Courtesy of ZDNet


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