The T wallet, the newly introduced product, will offer users a blockchain-based mobile application to store tokens. It will also provide access to CryptoQuant’s on-chain analysis tools, which could aid users in their market activities.
Jong Seung Kim, the leader of SKT’s Web3 business team hopes that the wallet would contribute to the growth of the crypto market in South Korea, which is known for its high trading volumes and local interest.
CryptoQuant is a data and research firm that provides on-chain data analysis services to institutional clients worldwide. The company has established exclusive partnerships with global entities such as the Chicago Mercantile Exchange (CME Group) and Moody’s credit rating agency to provide on-chain data and research on their terminals.
SK Telecom’s venture into the digital wallet arena could have profound implications for South Korea’s digital landscape. The telecom heavyweight boasts a massive user base, with nearly 30 million South Koreans connected as of December 2021, translating to a staggering 58% of the country’s populace. This move, especially against the backdrop of the company’s 2020 launch of a blockchain-based digital certificate wallet amidst the pandemic, could further bolster the adoption and popularity of digital asset tech in South Korea.
Source: Finance Feeds