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South Korean telecom giant SK Telecom has announced plans to launch its Web3 wallet service, T wallet, in partnership with Aptos and Atomrigs Lab.
The telecom giant hopes to expand its affiliations with customer-preferred mainnets and decentralized applications (dApps) using this tripartite agreement with the blockchain companies.
SK Telecom Partners With Aptos And Atomrigs Lab
SK Telecom has had plans to launch a blockchain wallet for cryptocurrencies and non-fungible tokens (NFTs) since July 2022. At the time, the initiative took off with the company’s blockchain arm, which announced a collaboration with AhnLab Blockchain Company and Atomix Lab to help develop and operate a Web3 wallet. According to the telecom company’s latest announcement, the partnership will look to enhance its affiliations with customer-preferred mainnets and decentralized applications, with an increased focus on the T wallet.
“We are delighted to announce that we signed a tripartite agreement with Aptos Labs, a rapidly emerging and scaling layer 1 mainnet, and Atomrigs Lab, our technology partner. This partnership is a strategic move to enhance our affiliations with customer-preferred mainnets and decentralized applications(dApps), with a particular focus on our Web3 wallet service, T wallet.”
The announcement further added,
“Through the collaboration with Aptos, which marks our first non-Ethereum Virtual Machine (EVM) blockchain integration, SKT is committed to delivering a seamless and secure Web3 experience for our users. We will also provide users with tangible value by connecting to the promising dApp ecosystem within Aptos. Through the collaboration with Aptos, which marks our first non-Ethereum Virtual Machine (EVM) blockchain integration, SKT is committed to delivering a seamless and secure Web3 experience for our users. We will also provide users with tangible value by connecting to the promising dApp ecosystem within Aptos.”
T Wallet Integration Into Aptos
The collaboration will also see SK Telecom’s T wallet be integrated into the Aptos decentralized application (dApp) ecosystem and the adoption of its MoveVM blockchain technology. According to data from South Korea’s National Tax Service (NTS), residents in the country hold over 70% of their overseas assets in cryptocurrency. According to official government data, 5,419 entities reported their overseas financial accounts. These held a total of 186.4 trillion won ($140 million) in assets such as cryptocurrencies and stocks. Apart from crypto and stocks, these accounts also held deposits and savings.
Aptos (APT) Price Analysis
Looking at the price chart below, we can see that Aptos (APT) is currently trading around the $7.27 mark. The price has seen considerable movement over the past 24 hours. Aptos was trading at $6.83 on Monday, the 6th of November. Following this, the price registered a significant increase, breaking past the $7 mark and rising to $7.37. The price struggled to move past this level before rising to $7.60. However, the price failed to move past this level, taking a bearish turn and dropping to $7.32 and then further to $7.23.
However, the sentiment around Aptos is still bullish, with 23 technical analysis indicators suggesting a bullish signal, while the Fear & Greed Index is at 74, suggesting Greed. According to technical indicators from CoinCodex, Aptos’ 200-day SMA will drop to $7.52 by the 6th of December. Furthermore, the short-term 50-day SMA is predicted to hit $7 by the same date. The Relative Strength Index (RSI) is currently at 61.81, indicating a neutral position.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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