Exodus Launches Passkeys Wallet for Easy Web3 Onboarding

Crypto Wallet Provider Exodus Introduces Passkeys Wallet for Easy Web3 Onboarding

Crypto wallet provider Exodus is launching a new product called the “Passkeys Wallet” with the aim of simplifying the user experience (UX) of Web3 for newcomers to the industry. This innovative wallet will allow users to easily create a wallet to explore various decentralized apps (dapps) without the need to create a new wallet or leave the application.

Streamlining User Experience (UX) in Crypto

One of the major hurdles hindering the mass adoption of cryptocurrencies has been the complex user experience associated with the sector. Issues such as the requirement for separate wallets for different assets on various blockchains, the need to remember 12-word seed phrases, and the steep learning curve of navigating Web3 have deterred many Web2 users from transitioning into the crypto space. To enable the unbanked to access crypto, it is crucial to simplify the UX similar to popular Web2 applications like Instagram or Facebook. Exodus aims to address this challenge by providing a user-friendly experience for newcomers to the industry.

Key Features of Passkeys Wallet

• Users can create an encrypted, embedded wallet with a single click, eliminating the need for sign-ups, email verifications, or managing seed phrases.
• Supports Ethereum Virtual Machine (EVM), Bitcoin (BTC), Solana (SOL), and other ecosystems, enabling seamless interaction with various blockchains.
• Developers can easily integrate the wallet into their applications with just a few lines of code, incorporating Multi-Party Computation (MPC) technology for enhanced security.

Partnerships and Trading Information

Exodus has collaborated with payment processing partners to facilitate funding for the Passkeys Wallet. The company also plans to share revenue with developers on any on-chain transactions. Additionally, the Class A shares of Exodus Wallet are traded on an OTC exchange under the ticker EXOD, with efforts underway to uplist onto NYSE American, pending further review by the U.S. Securities and Exchange Commission (SEC).