TechFlow reports that South Korean tech giant Naver is partnering with sports blockchain Chiliz to launch its first cryptocurrency wallet, Naver Pay Wallet.
Often referred to as "South Korea's Google," Naver operates the country's most widely used search engine. According to Similarweb, Naver was South Korea's most visited website last month, recording 1.7 billion visits. The wallet is managed by Naver subsidiary Naver Pay, which reportedly serves over 97,000 merchant users.
The wallet is currently in testing phase and follows a non-custodial model, allowing users to retain control of their private keys, and supports storage of cryptocurrencies and NFTs.
Notably, one day before Naver's crypto wallet announcement, LINE—Naver's messaging app launched in Japan—also revealed plans to enter the crypto space by introducing blockchain-based "mini DApps."
