South Korea’s Naver Pay Wallets Cross 800K on Chiliz Chain

Key Highlights:

• Over 800,000 Naver Pay Wallets were created on the Chiliz Chain, expanding Web3 access for South Korea’s 33M+ payment app users.
• The Chiliz–Naver Pay partnership, launched in September 2024, introduced blockchain wallets directly within the payment platform.
• On-chain data also showed major CHZ accumulation by whale addresses, reducing exchange supply and drawing market attention.

Over 800,000 wallets linked to Naver Pay have already been created on the Chiliz Chain, according to recent data. Naver Pay remains one of South Korea’s largest payment applications. The platform serves more than 33 million users. 

The collaboration between the two companies began in September 2024. At the time, they announced plans to launch Naver Pay Wallet, a digital asset wallet designed for the South Korean market. Chiliz Chain became the first blockchain network integrated into the wallet system.

As a result, the platform now allows users to create blockchain wallets directly within the payment application. 

Chiliz ($CHZ) Whale Activity Reduces Exchange Supply

At the same time, recent on-chain data has drawn attention to activity around CHZ tokens. Analysts reported signs that large investors accumulated the token before a major global sporting event, believed to be linked to football’s FIFA World Cup cycle.

Data cited by the research platform Nansen and trading analysts suggests a noticeable drop in exchange balances. Only about 13% of the total circulating supply of CHZ currently sits on centralized exchanges. The overall circulating supply stands near 10.15 billion tokens. Of that amount, roughly 5.63 billion remain held in wallets connected to the Chiliz ecosystem and cross chain bridges. Another 1.37 billion tokens sit on exchanges. This distribution leaves an estimated 3.15 billion CHZ actively circulating and available for trading in the market.

Exchange outflows also increased during the same period. Since December 11, around 150 million CHZ has moved off exchanges. Balances fell from roughly 1.52 billion tokens to about 1.37 billion.

Blockchain data showed a cluster of new addresses appearing between December 11 and December 14. Nine wallets acquired around 384 million CHZ through Coinbase. The purchases took place at an average price close to $0.033 per crypto.

Following the buying activity, the price of CHZ climbed sharply. The token nearly doubled at one point, rising to around $0.06. However, the wallets involved in the purchases did not sell during the rally.

Instead, blockchain tracking suggests the addresses added roughly 100 million additional tokens later. Their combined holdings now is near 384 million CHZ.

That figure represents approx 28% of all Chiliz reserves held on exchanges. It also equals close to 13 percent of the net circulating supply.

Market analysts often interpret such accumulation patterns as long term positioning rather than short term speculation.

At the time of writing, $CHZ is trading near $0.038. The crypto gained more than 11% during the previous 24 hours.

A market analyst has pointed to a consolidation pattern forming on longer timeframes. The analyst noted that the price has been holding near the 50 week moving average and forming a falling wedge structure.

The analysis highlighted several potential price levels if momentum goes on. The first targets discussed include $0.05 and $0.085. Higher projections extend toward $0.16, $0.30, and even $0.53 under stronger market conditions.

Another analysis said a double bottom pattern after the token broke above a resistance zone. Traders are watching whether the breakout receives sustained buying support in the coming sessions.

The Chiliz ecosystem introduced blockchain based fan tokens in 2018. Over time, fan tokens grew into a major category within sports related digital assets. The ecosystem has generated more than $700 million in revenue for partner organizations. Market capitalization for fan tokens surpassed $1 billion at its peak in 2025.

More than 70 sports organizations joined the network. Many teams used the tokens to run fan polls and distribute rewards through the platform Socios.com.

Looking ahead, as a part of its ‘Vision 2030’, Chiliz plans to expand the ecosystem through additional blockchain integrations and tokenized sports assets. The project stated, “2026 will see our re-entry into the US market, supported by greater clarity and growing demand for digital assets. The first US partnership will be announced in Q1.”

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