Phantom has acquired Bitski to increase crypto adoption.
Takeaway Points
- Phantom has acquired Bitski to increase crypto adoption.
- The aim of acquiring Bitski is to help increase the adoption of crypto.
- Anyone who has created a Bitski Wallet will be able to export their private keys starting Monday, May 27th, Bitski said.
Who acquired Bitski?
The crypto wallet Phantom, in a post on Tuesday, reported that it has acquired Bitski, a leading provider of embedded wallets. The aim of acquiring Bitski is to help increase the adoption of crypto.
By acquiring Bitski, their team will join Phantom employees to bring embedded wallets to Solana, make onboarding easier for users and developers, and unlock new, exciting use cases, Phantom said.
Brandon Millman, CEO of Phantom, said in a comment, “We’re thrilled to welcome Bitski to the Phantom family. 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, said, “We’re really excited about Phantom bringing embedded wallets to Solana. 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.”
Bitski co-founder and CEO Donnie Dinch said, “Teaming up with Phantom has us fired up because we share the same relentless passion for creating the best wallet experience in crypto. Wallets will be the most important consumer application over the next 20 years. The winner will have catered to today’s users and prepared for billions more. We can’t wait to make this happen at Phantom.”
What can you expect from the Bitski integration?
Phantom said that integrating Bitski into its platform will help with simple sign-in via email, easy onboarding for users and developers, and a modern solution to safety and security with new exciting use cases.
Anyone who has created a Bitski Wallet will be able to export their private keys starting Monday, May 27th, Bitski said.
About Bitski
Bitski is a leading provider of embedded wallets, founded in 2016 by co-founders Donnie Dinch, Julian Tescher, and Patrick Tescher. Since its launch, Bitski has built developer-friendly web3 tools and worked with major brands such as Adidas, Major League Soccer (MLS), and WWE—all while being backed by notable investors, such as Andreessen Horowitz and Coinbase Ventures, Phantom said.
Through its embedded wallet technology and infrastructure, Bitski allows developers to create rich wallet experiences and users to sign-in to apps using their email address or Apple, Google, or X accounts, as stated in the report.
About Phantom
Phantom is a simple multichain wallet, created In Jan 2021 by a group of engineers, designers, and former founders who got together with the aim of making crypto simple and more accessible for everyone.
According to the crypto wallet, it has 3 million+ users, and in July 2021, they raised $9 million from a16z, Variant, Jump Capital, and more, a major boost in realizing our ambition to onboard the world to Web3.
Phantom also launched its in-app token swapper in June 2021 and recorded over $1B in swap volume by October of that year.
