Naver Pay launches digital asset wallet

Seoul, South Korea—Naver Pay, a South Korean digital payment service, announced that it had introduced a beta version of its digital asset wallet, 'Naver Pay Wallet'.

Based on Web 3.0 technology, the new service offers users exclusive access to sports and entertainment content through partnerships with blockchain companies. 

Users can collect and store NFTs (Non-Fungible Tokens) called 'Art' during the beta period from partnered content providers.

The Naver Pay Wallet is a non-custodial wallet that allows users to manage their private keys and tokens without third-party intervention. 

It can be easily set up using a Naver ID and a dedicated password.

Naver Pay plans to introduce token storage and digital asset management features when the service officially launches, though no specific date has been set.

Lee Mi-young, head of Pay Infrastructure & Biz at Naver Pay, stated that the company will continue collaborating with blockchain firms to offer unique sports and entertainment content through the Naver Pay Wallet.