• South Korean software giant AhnLab has released a crypto wallet called ABC.
• The wallet is designed to provide users with security features and warnings regarding risky wallet addresses.
• The wallet is available on both Android and iOS devices.
AhnLab, the South Korean software giant founded by tech entrepreneur and presidential candidate Ahn Chul-soo, has released a new crypto wallet, ABC. This marks the latest move by the country’s IT players into the crypto space, following the likes of Kakao and Samsung.
The ABC crypto wallet is currently available on mobile devices, with versions for both Android and iOS released to marketplaces this week. The wallet is designed to provide users with an array of security features, such as relaying “crypto threat and fraud” alerts to users based on data collected by AhnLab and its partners. It also provides warnings when users attempt to interact with “risky wallet addresses”.
In addition, the wallet has advanced “Secure MPC” private key technology, which provides users with three “key shares”. Two of these three must be used in combination to activate signature and recovery functions on the wallet, making it more difficult for hackers and voice phishing criminals to access the wallet.
AhnLab’s move into the crypto space follows the likes of Kakao, South Korea’s largest IT company, and Samsung, the world’s largest smartphone maker. Both companies have announced their own crypto initiatives, with Kakao launching its own crypto wallet, Klaytn Wallet, and Samsung unveiling its own blockchain technology.
The launch of AhnLab’s ABC crypto wallet comes as the South Korean government is taking steps to regulate the crypto industry. The government has proposed a new law that would require all crypto exchanges to obtain a license from the country’s Financial Services Commission. The government also plans to introduce a system that would allow banks to monitor crypto transactions, as well as a system to track crypto-related money laundering activities.
The move by AhnLab into the crypto space is the latest sign that South Korea is becoming a key hub for blockchain innovation and investment. With the government taking steps to regulate the industry and major players such as AhnLab entering the market, South Korea is set to play an even bigger role in the global crypto space.