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South Korea’s SK Telecom To Build Its First Web3 Wallet
SK Telecom has partnered with blockchain firms AhnLab Blockchain Company and Atomrigs Labs to develop and operate a digital wallet for cryptocurrency management and Web3 access, the South Korean telecommunications giant announced on Monday.
Muskaan T.
10:42 11th Jul, 2022

SK Telecom said users of its wallet will be able to store, transfer and receive blockchain-issued tokens such as cryptocurrencies, non-fungible tokens (NFTs) and “soulbound tokens” (SBTs), which are permanent, non-transferable NFTs for verifiable identifications and certificates.

SK Telecom owns over 47% of all mobile communications users in South Korea as of 2021, according to Korea Information Society Development Institute (KISDI).

The telecommunications arm of conglomerate SK Group also operates its own metaverse, Ifland, which has a monthly average user base around 1.1 million people.

SK Group’s information technology investment subsidiary, SK Square, has been working on its own cryptocurrency that is intended to be used within SK’s Web3 network.


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