SK Telecom intends to extend its "affiliations with customer-preferred mainnets and decentralized applications (dApps)" through this tripartite arrangement with the blockchain businesses.
South Korean telecommunications company SK Telecom (SKT) announced intentions to create T wallet, a Web3 wallet service, in collaboration with layer-1 mainnet Aptos Labs and Atomrigs Lab.
The goal of SK Telecom is to establish a blockchain wallet for cryptocurrencies and non-fungible tokens (NFTs) in July 2022. At the time, SKT's blockchain arm collaborated with AhnLab Blockchain Company and Atomix Lab to design and run a Web3 wallet.
According to the newest release, SKT intends to use this tripartite arrangement with the blockchain businesses to grow its "affiliations with customer-preferred mainnets and decentralized applications."
"SKT is committed to offering a seamless and secure Web3 experience to our users through our collaboration with Aptos, which marks our first non-Ethereum Virtual Machine (EVM) blockchain integration."
SKT committed in an official tweet to provide users with a safe and smooth Web3 experience.
T wallet will also use Aptos' MoveVM blockchain technology and be integrated into its decentralized applications (DApps) ecosystem as a result of the cooperation.
According to recent data from the National Tax Service (NTS) of South Korea, over 70% of the country's citizens' foreign assets are bitcoin.
5,419 entities disclosed their foreign financial accounts, with a total of 186.4 trillion won ($140 million) in assets, including stocks and cryptocurrencies, according to the official statistics.
The launch Web3 wallet is a significant milestone in the adoption of blockchain technology in South Korea. This collaboration between a leading telecom company, a blockchain development company, and a research firm highlights the growing importance of Web3 and decentralized finance in the global digital landscape. As blockchain technology continues to gain prominence, Crypto Link is poised to empower users to engage with the digital economy securely and conveniently, paving the way for a more inclusive and decentralized financial future.