Naver will be releasing a cryptocurrency wallet called Naver Pay Wallet in collaboration with Chiliz, a blockchain provider. The crypto wallet will be primarily catered towards South Korea, which is where Naver is based.

Naver Pay Wallet comes under Naver Pay, an E-wallet service by Naver Corporation. This crypto wallet is Naver's entry into the cryptocurrency market. It is a collaboration with Chiliz, a blockchain platform in the field of entertainment and sports. It founded in 2018 by Alexandre Dreyfus. Chiliz has also expressed its excitement about this new venture as it opened a giveaway for the new E-wallet users. 50 winners from South Korea will receive VIP tickets to a European Football Tour, NFTs and European travel packages.

Naver Pay Wallet: More on this E-wallet and Naver

Dreyfus has thus stated the new Pay Wallet does not intend to be the typical crypto wallet. This new crypto wallet will also offer customers with a non-custodial wallet. This means that the custom.ers will be able to have direct control of their digital assets and private keys. Naver Pay Wallet will allow more than 33 million users to take control of their digital assets and even store their NFTs.

Naver Pay is a South Korean e-wallet service released in 2015 by Naver Corporation. Users of this E-wallet can also link their credit/debit cards for purchases or transactions. To access this service, users will have to register and link their bank and card details. This allows users to make online transactions without entering account information to the recipient or merchant. Naver Pay's attractive reward point system also rewards users with every transaction they make with this E-wallet.

Naver Corporation is South Korea's biggest internet conglomerate and it owns Naver, the most popular search engine in South Korea. The search engine was launched in 1999 and it is the country's first-ever web portal. There are more than 40 monthly users on Naver and the search engine has been dubbed as the 'Google of South Korea' as most of the country's population relies on Naver. The Corporation also has several other popular websites and services such as Naver Webtoon, Naver Dictionary, Naver Cafe, Naver Blog, Naver Pay and more.

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