Trust Wallet Partners with Biconomy to Launch Web3 SWIFT Wallet

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Trust Wallet, one of the largest mobile wallets in web3, recently announced the launch of SWIFT, a web3 wallet powered by Account Abstraction and Biconomy. SWIFT is a smart contract wallet that offers an easier, safer, and more practical user experience in interacting with decentralized applications (dApps).

SWIFT is available as a beta option within the existing Trust Wallet app. Users can choose to try out new features offered by SWIFT, such as quick setup, one-click transactions, and flexible gas fee payments. SWIFT also uses Passkey, an authentication mechanism based on biometrics and linked to iCloud or Google accounts. Thus, users don't have to worry about losing their private keys or secret phrases.

SWIFT goals

SWIFT is designed to simplify the web3 onboard process for web2 users who are used to web2-like user experiences. SWIFT also aims to increase mass adoption of web3 by empowering experienced CeFi users and web3 newcomers. SWIFT offers several advantages, including:

Convenient SWIFT Setup 

Users only need a few seconds to set up their SWIFT wallet, without the need to memorize or save secret phrases. SWIFT leverages Biconomy's SDK that implements Account Abstraction, a concept that allows smart contract wallets to function like external accounts.

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Easy Access with Passkeys

Users can use Passkeys, a WebAuthn standard protected by biometrics, to easily access and recover their SWIFT wallets. Passkeys are also associated with iCloud or Google accounts, but Apple or Google do not have access to the user's private keys.

Smooth Gas Cost Management 

SWIFT eliminates the confusion of transaction fees by leveraging Biconomy's Paymaster and Bundler infrastructure, which supports over 200 tokens. SWIFT allows users to pay gas fees with the same ERC20 tokens that were transferred, or whatever tokens are in their wallet.

Eowyn Chen, CEO of Trust Wallet, said, "We are thrilled to partner with Biconomy to introduce SWIFT to the world. By leveraging Biconomy's user-focused infrastructure that reduces onboard complexity, and onboard our trust base of 80 million users, SWIFT has the potential to become the industry's defining web3 wallet standard."

Ahmed Al-Balaghi, Co-founder and CEO of Biconomy, added, "We are proud to partner with Trust Wallet on this milestone announcement. SWIFT represents the next logical step toward democratizing access to web3, supporting our mission to empower users with the right tools for web3 mass adoption."

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Get to know Trust Wallet and Biconomy

Trust Wallet is a leading self-custody wallet and "one-stop shop" and gateway to web3 for people who want to fully own, control, and leverage the power of their digital assets. Trust Wallet supports millions of assets across over 100 blockchains, including Bitcoin, Ethereum, Solana, and more. Users can buy, sell, exchange, earn rewards, manage NFTs, and explore dApps, all in one place.

Biconomy adalah platform pengembang yang menetapkan standar UX untuk transaksi blockchain yang lancar. Biconomy memberdayakan pengembang terbaik di dunia untuk memberikan pengalaman mirip web2 dalam dApps mereka. Sebagai pionir Account Abstraction (ERC-4337), Biconomy telah mengonboard lebih dari 4 juta pengguna unik di lebih dari 400 dApps sambil bermitra dengan institusi dan aplikasi terdesentralisasi seperti J.P. Morgan, Trust Wallet, dYdX, dan The Sandbox.

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DISCLAIMER: This article is informational in nature and does not constitute an offer or solicitation to sell and buy any crypto asset. Trading crypto assets is a high-risk activity. The price of crypto assets is volatile, where prices can change significantly from time to time and Bittime is not responsible for fluctuations in the exchange rate of crypto assets.