Phantom is making a big move by acquiring Bitski, a top player in embedded wallets. This acquisition is set to bring some serious upgrades to the Solana ecosystem, making it easier for everyone to get onboard and explore new possibilities.
Raj Gokal, co-founder of Solana, is pumped about this development. "We're really excited about Phantom bringing embedded wallets to Solana," he said. "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."
One of the biggest changes on the horizon is doing away with seed phrases. For many, managing and memorizing these phrases is a huge headache—and even a deal-breaker. Phantom plans to make signing into and using web3 apps as easy as using any regular web2 app, thanks to seedless self-custody.
Phantom believes it’s possible to have something simpler than a hardware wallet, yet safer than a bank. They’re working on making it easy for anyone to navigate web3 without exposing their keys or allowing apps to sign without their permission.
With a smoother onboarding process, Phantom expects to attract a wave of new crypto users and developers who might have stayed away before. This influx will bring new needs and opportunities, sparking further innovation and app development.
Bitski, founded in 2016 by Donnie Dinch, Julian Tescher, and Patrick Tescher, has built a reputation as a leader in embedded wallets. The team has nearly a decade of experience in web3, working with big names like Adidas, Major League Soccer (MLS), and WWE. Backed by investors like Andreessen Horowitz and Coinbase Ventures, Bitski’s technology allows users to sign into apps with their email or social media accounts.
"We’re thrilled to welcome Bitski to the Phantom family,” said Brandon Millman, CEO of Phantom. “By bringing the Bitski team to Phantom, we’re not just adding technological expertise; we’re aligning with a team that shares our vision of making web3 apps as easy to use as web2 apps.”
Phantom has already started integrating the Bitski team and their products. Over the next few weeks, this process will be completed. Existing Bitski products will be gradually phased out, with users being kept in the loop throughout. Together, Phantom and Bitski will launch Phantom’s own embedded wallet.
Donnie Dinch, co-founder and CEO of Bitski, is equally enthusiastic: "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."
Phantom and Bitski are on a mission to make web3 more accessible and secure for everyone. With this partnership, the future looks bright.
