Phantom Solana Wallet Introduces Bitcoin, Ordinals, and BRC-20 Token Compatibility
In Brief
The crypto wallet Phantom has announced its new ability to support Bitcoin, Ordinals, and BRC-20 tokens, expanding its functionality beyond its initial Ethereum and Polygon blockchain support.
Self-custody crypto wallet Phantom The wallet now offers compatibility with Bitcoin, Ordinals, and BRC-20 tokens. Currently, Bitcoin support is in beta, which allows any holder of a Phantom wallet to enable it within the app settings and import assets Bitcoin , Ordinals along with BRC-20 from pre-existing Bitcoin wallets.
Primarily recognized as a Solana wallet, Phantom is taking steps to broaden its horizons by adding support for Ethereum and Polygon blockchains.
“Without Bitcoin, none of the foundations for Solana, Ethereum, or the web3 ecosystem would exist. We're incredibly thankful for Bitcoin and excited to launch it (in ₿eta) on Phantom.”
stated Phantom.
Since its launch in 2021, Phantom has seen remarkable growth, boasting around 3 million active users approximately a year ago.
Originally developed by a team of Ethereum creators, this wallet features a browser extension specifically designed for decentralized finance applications. In the early months of 2022, Phantom raised an impressive $109 million in Series B funding, spearheaded by Paradigm, with contributions from a16z , Variant, Solana Ventures, and Jump Crypto.
Phantom Boosts Multichain Functionality
Earlier this year, Phantom expanded extending beyond its core Solana platform to include support for decentralized applications and assets on Ethereum and the scalable Polygon network, thereby enhancing user access to various dApps throughout the Web3 ecosystem, such as Magic Eden, Uniswap, Aave, Blur, and OpenSea.
The recent announcement from Phantom aligns with a growing trend suggesting that Bitcoin , historically viewed as an outsider to the fast-paced NFT ecosystems of Ethereum and Solana due to its lack of smart contract support, is starting to play a vital role in the digital asset market.
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