SK Telecom to Launch Web3 Wallet Service
SK Telecom, a South Korean telecommunications operator, has announced plans to launch a Web3 wallet service called T wallet. This initiative is being undertaken in partnership with layer-1 mainnet Aptos Labs and Atomrigs Lab.
The vision to create a blockchain wallet for cryptocurrencies and nonfungible tokens (NFTs) was first introduced in July 2022. The collaboration between SKT’s blockchain arm, AhnLab Blockchain Company, and Atomix Lab aimed to develop and operate a Web3 wallet.
According to the latest announcement, SKT aims to expand its affiliations with customer-preferred mainnets and decentralized applications through this tripartite agreement with the blockchain companies. The partnership will also see T wallet’s integration into Aptos’ decentralized application (DApp) ecosystem and adoption of its MoveVM blockchain technology.
South Korean Residents Hold 70% of Overseas Assets in Crypto
The National Tax Service (NTS) of South Korea recently disclosed that residents hold more than 70% of their overseas assets in cryptocurrency. Official data revealed that 5,419 entities reported their overseas financial accounts, holding a total of 186.4 trillion won ($140 million) in assets like cryptocurrencies, stocks, deposits, and savings.
Hot Take: SK Telecom’s Foray Into Web3 Wallet Services
SK Telecom’s entry into the Web3 wallet service market represents a significant move in the blockchain and crypto industry. With the launch of T wallet in collaboration with Aptos Labs and Atomrigs Lab, SKT is positioning itself to provide a seamless and secure experience for users within the Web3 ecosystem. Additionally, the growing adoption of cryptocurrency among South Korean residents underscores the increasing importance of secure digital asset management solutions like T wallet.
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