Phantom Acquires Bitski, Brings Embedded Wallets to Solana

On May 21, 2024

Phantom, a leading crypto wallet in the Solana ecosystem, recently announced its acquisition of the wallet-as-a-service platform, Bitski.

In the coming months, Phantom plans to fully integrate Bitski’s team and technology into its ecosystem, and existing Bitski products will sunset as users transition to Phantom’s embedded wallet solutions.

While the terms of the deal were not disclosed, the acquisition has been finalized with Bitski joining Phantom’s existing team of over 80 employees.

Embedded Wallets for Mass Adoption

Phantom aims to simplify the onboarding process for new users by eliminating the need to manage complex seed phrases and lower barriers to entry into the crypto market by allowing users to sign up and log in using only their email addresses, Apple, Google, or X accounts without compromising security.

Brandon Millman, CEO of Phantom, celebrated the acquisition saying, “By bringing the Bitski team to Phantom, we’re not just adding technological expertise, we’re aligning with a team that shares a common vision that users should be able to sign into web3 apps as easily as any web2 app.”

Raj Gokal, Co-founder of Solana, expressed his excitement and commented, “This move is going to make it so much easier for people to onboard to dApps and navigate the Solana ecosystem. Phantom is doing great work to simplify things and improve the overall user experience, and we couldn’t be happier to support their efforts.”

Donnie Dinch, Co-founder and CEO at Bitski, also shared via Bitski’s official website, “This is a big step towards a future where ownership is a standard part of the internet. We’re thrilled to continue our mission of making ownership accessible to everyone.”

Phantom is further seeking collaboration from developers on the Solana blockchain to advance embedded wallets and onboarding solutions. Developers interested in partnerships can reach out to Phantom to help grow the ecosystem.

Want more? Connect with NFT Plazas

Join the Weekly Newsletter
Join our Telegram
Follow us on Twitter
Like us on Facebook
Follow us on Instagram

*All investment/financial opinions expressed by NFT Plazas are from the personal research and experience of our site moderators and are intended as educational material only. Individuals are required to fully research any product prior to making any kind of investment.

Blockchain enthusiast and lifelong gamer.

Credit: Source link