According to TechFlow, South Korean technology giant Naver is working with sports blockchain Chiliz to launch its first crypto wallet Naver Pay Wallet.

Naver, known as the "Google of Korea," operates the country's most widely used search engine. Last month, Naver was the most visited website in South Korea with 1.7 billion visits, according to Similarweb data. The wallet is managed by Naver subsidiary Naver Pay and reportedly has more than 97,000 merchant users.

The wallet is currently in the testing phase and adopts a non-custodial model. Users can retain private keys and support cryptocurrency and NFT storage.

It is worth noting that one day before Naver’s crypto wallet was launched, its communication application LINE launched in Japan also announced its entry into the crypto field and will introduce blockchain-based "mini DApps" applications.