In a move aimed at accelerating mainstream adoption of cryptocurrency, Phantom, a popular Solana wallet, has acquired Bitski, a leading provider of embedded wallets.
This acquisition will bring the expertise of the Bitski team to Phantom, allowing them to integrate embedded wallet technology into the Solana ecosystem. This will make it easier for both users and developers to interact with decentralized applications (dApps) built on Solana.
Founded in 2016, Bitski boasts a team with nearly a decade of experience in web3 development. They’ve built user-friendly tools for developers and partnered with major brands like Adidas and Major League Soccer. Their technology allows users to sign in to crypto applications with familiar methods like email or existing accounts (Apple, Google, X).
“By bringing the Bitski team to Phantom, 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,” said Brandon Millman, CEO of Phantom. This focus on user experience is expected to remove a major barrier to entry for new crypto users.
The Bitski team is already being integrated into Phantom. Users can expect a smooth transition as Bitski’s existing products are phased out. Phantom will be working with the Bitski team to launch its own embedded wallet.
Both companies are enthusiastic about this collaboration. “Teaming up with Phantom has us fired up because we share the same relentless passion for creating the best wallet experience in crypto,” said Bitski co-founder and CEO Donnie Dinch. This acquisition is a significant step towards making crypto more accessible and user-friendly for everyone.
