• 28 May, 2024
News

Polygon Labs Announces Web3 Partnership With South Korea’s SK Telecom

Polygon Labs announced a web3 partnership with South Korean telecommunications giant SK Telecom earlier today. The strategic collaboration would see both firms further the development of the web3 ecosystem by harnessing SK Telecom’s expertise in the field of telecommunications and Polygon’s blockchain infrastructure. 

Polygon Labs took to X (formerly Twitter) earlier today to share the news of the web3 partnership:

One of the primary objectives of the strategic partnership between the two companies would be to enable unique web3 environments for their users and offer them secure, efficient, and high-speed transactions. Furthermore, the collaboration would also pave the way for budding startups in South Korea to receive support, guidance, and incubation from an industry leader like Polygon Labs

As part of the partnership, SK Telecom would integrate Polygon blockchain support into TopPort, its non-fungible token (NFT) marketplace. Polygon’s blockchain infrastructure would also support the telecommunication firm’s web3 wallet in order to enhance user experience and increase the adoption of blockchain technology. 

According to a press release from SK Telecom, the signing ceremony for the web3 partnership took place at the company’s headquarters in Seoul. The firm’s web3 wallet, scheduled for release in the second half of 2023, would also support the Polygon network. 

Speaking on the latest partnership with SK Telecom, Polygon’s Chief Executive Marc Boiron stated:

Polygon Labs has been developing optimal blockchain technology for Web3 popularization, and we see this collaboration with SKT as an important step in providing Web3 experiences to more consumers.

Oh Se-hyun, the Vice President and head of Web3 at SK Telecom stated that the partnership with a leading blockchain firm like Polygon Labs would allow it to create business opportunities and improve the local web3 ecosystem. Earlier this year, Polygon Labs announced a similar partnership with German telecommunications giant Deutsche Telekom. The telecom firm came on board Polygon as a network validator, joining other validators, including Coinbase Cloud, Hashquark, and Stakin. 

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