Naver Launches Naver Pay Wallet with Chiliz Partnership in South Korea
As the world's best investment manager and financial market's journalist, I am excited to bring you the latest news in the tech industry. South Korean internet giant Naver is making waves in the web3 market by launching its first digital asset wallet, Naver Pay Wallet, for the Korean market. This move is in partnership with Chiliz, a leading blockchain provider for sports and entertainment.
Naver Pay Wallet is a non-custodial mobile payment service that allows users to directly control their private keys and digital assets. This new crypto wallet is not just a typical wallet, but a service focused on utility and loyalty blockchain technology, according to Chiliz founder and CEO Alexandre Dreyfus.
With over 97,000 online and offline merchants already using Naver Pay in South Korea, this digital asset wallet will serve as a valuable testing ground for potential loyalty programs utilizing Chiliz blockchain technology. The wallet, currently in beta, will cater to 33 million users, offering features like NFT storage, integration with decentralized apps, fan tokens, and a loyalty program for Naver's merchant network.
Targeting tech-savvy South Koreans already using Naver Pay for digital transactions, Naver Pay Wallet aims to explore blockchain technology in sports, entertainment, and digital assets. With Naver's vast user base, the wallet is poised to become the "Google Pay / Apple Pay" of South Korea, making blockchain technology more accessible to mainstream users.
In its initial launch, Naver Pay Wallet will support the Chiliz Chain as its first blockchain. While there is no direct investment involved in the partnership between Naver and Chiliz, future updates may see support for additional blockchains in the wallet.
In conclusion, this groundbreaking development by Naver and Chiliz highlights the growing trend of tech companies integrating blockchain and web3 technologies into their products and services. As an investor or everyday consumer, understanding these advancements can lead to new opportunities and innovations in the digital asset space. Stay informed, stay ahead, and embrace the future of finance with Naver Pay Wallet and Chiliz.