[Chiliz Blockchain and "Korea Google" jointly launch encrypted wallet]
South Korean tech giant Naver is partnering with sports-focused blockchain Chiliz to launch its first crypto wallet, Naver Pay Wallet. Chiliz is an L1 blockchain designed specifically to support fan tokens. On August 29, Chiliz posted on the X platform that the blockchain had been selected as the first supporting blockchain for Naver Pay Wallet. Known as the "Google of Korea," Naver operates the country's most commonly used search engine, with more than 33 million users.
Alexandre DREYFUS, founder and CEO of Chiliz, said that Naver Pay Wallet is not intended to be a typical crypto wallet, but a utility and loyalty service based on blockchain. The wallet is currently in beta and is non-custodial, meaning users will retain their wallet’s private keys and can store cryptocurrencies and non-fungible tokens (NFTs). Dreyfus said that it will add more features in the future and plans to integrate with decentralized applications (DApps), fan tokens and merchant loyalty programs.
He also added that the target customers are technology enthusiasts who already use Naver Pay and are interested in learning blockchain technology, especially in the sports, entertainment and digital asset industries. While the Chiliz blockchain is the first supported blockchain for the wallet, Dreyfus said Naver may add support for more blockchains in the future.
