Naver Launches First Crypto Wallet in Korea

South Korean internet giant Naver has launched its first digital asset wallet, the Naver Pay Wallet, in partnership with blockchain platform Chiliz, targeting over 33 million users. This non-custodial wallet allows users to retain control over their private keys and digital assets, focusing on utility and loyalty rather than traditional cryptocurrency features. The wallet will also support NFTs and plans to integrate decentralized applications and fan tokens in the future. Naver Pay, which boasts over 97,000 merchant users, manages the wallet, which is currently in beta. Alexandre Dreyfus, CEO of Chiliz, emphasized that the wallet aims to cater to tech-savvy South Koreans interested in blockchain technology and sports entertainment. The collaboration positions Naver and Chiliz to set new standards for digital asset management in South Korea.