KEY POINTS
Phantom, a crypto and non-fungible token (NFT) wallet focused on Solana, has acquired Bitski, a key provider of embedded wallets.
The announcement was made on May 21 via a post on X (Twitter). Phantom emphasized its mission to “accelerate the world’s adoption of crypto by making it safe and easy to use,” and expressed that the integration with Bitski will help expand its reach from millions to billions of users.
Founded in 2016, Bitski has developed tools for Web3 developers and collaborated with prominent brands like Adidas, Major League Soccer (MLS), and WWE. In 2019, Bitski secured $1.8 million in seed funding from investors including Galaxy Digital, Winklevoss Capital, and Coinbase Ventures.
Bitski’s infrastructure allows developers to build rich wallet experiences and users to log into apps using their email or accounts from Apple, Google, or X. This technology will now be integrated into Phantom’s offerings, aiming to simplify user sign-ins, enhance onboarding processes, improve security, and explore new use cases.
Phantom and Bitski’s collaboration will bring embedded wallets to the Solana ecosystem, facilitating easier onboarding to decentralized applications (dApps) and smoother navigation within the Solana network.
Over the next few weeks, Bitski’s team and products will be fully integrated into Phantom, with existing Bitski products being phased out in the coming months. Starting May 27, Bitski wallet users will have the option to export their private keys.
Donnie Dinch, CEO of Bitski, stated, “This is a big step towards a future where ownership is a standard part of the internet. We’re thrilled to continue our mission of making ownership accessible to everyone.”
Phantom, launched in 2021, has rapidly gained popularity and is now one of the most widely used multichain crypto wallets. In its first year, Phantom secured $9 million in funding from notable investors such as a16z, Variant, and Jump Capital.
Among its recent initiatives, Phantom introduced a new NFT camera feature, enabling users to convert photos and videos into NFTs instantly.
