South Korean tech conglomerate Naver is stepping into the crypto world with the launch of its first Naver Pay Wallet, in partnership with sports-focused blockchain Chiliz.
Chiliz, a layer 1 blockchain designed to support fan tokens, announced on August 29 on X that it has been selected as the first blockchain for the Naver Pay Wallet. The wallet is now available to over 33 million Naver users.
Naver, often referred to as the “Google of Korea,” operates the country’s most popular search engine. According to Similarweb, Naver was the most visited website in South Korea last month with 1.7 billion visits.
Naver Pay, a subsidiary of Naver, will be responsible for managing this wallet. Naver Pay is known to currently have more than 97,000 merchant users.
“Naver Pay Wallet is not just a regular crypto wallet, but a service that integrates blockchain technology to increase utility and loyalty,” Alexandre Dreyfus, founder and CEO of Chiliz, told TechCrunch.
Currently, the Naver Pay wallet is in beta testing and is a non-custodial wallet – meaning users manage their own private keys – capable of storing both cryptocurrencies and NFTs.
More new features will be added in the future, including integration with decentralized applications (DApps), fan tokens, and loyalty programs for merchants, Dreyfus said.
He also emphasized that the target customers of Naver Pay Wallet are tech-savvy people who are familiar with digital Naver Pay and are interested in exploring blockchain technology, especially in the fields of sports, entertainment, and digital assets.
While Chiliz is the first blockchain to be integrated, Dreyfus said Naver may expand support to more blockchains in the future.
Notably, Naver’s crypto wallet launch comes just a day after messaging app LINE – which Naver launched in Japan in 2011 and still owns a majority stake in – also made a foray into crypto.
LINE plans to launch “mini DApps” – blockchain applications integrated into the messaging app – after the Kaia blockchain officially launches its mainnet on August 29.
The Kaia blockchain was formed from a February merger between LINE's Finschia blockchain and the Klaytn blockchain from Kakao, a major South Korean social app maker.
Source: https://tapchibitcoin.io/chiliz-blockchain-hop-tac-voi-naver-ra-mat-vi-crypto.html
