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. 

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Fast facts

  • 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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