Trust Wallet Unveils SWIFT in Public Beta to Enhance Secure Web3 Experience with Account Abstraction
In Brief
In an effort to streamline web3 access for beginners, Trust Wallet has introduced SWIFT, a smart contract wallet that leverages Account Abstraction technology.
Cryptocurrency wallet platform Trust Wallet announced today that they are launching the public beta version of SWIFT, a smart contract wallet fueled by groundbreaking ‘Account Abstraction’ technology. The goal of SWIFT is to widen the accessibility of web3 and set the stage for the next billion users entering the space.
The company states that SWIFT addresses common hurdles faced by newcomers in the web3 space, including the complexity often perceived, concerns about security, and the tedious management of recovery phrases and private keys. By employing Account Abstraction, Trust Wallet seeks to create a more user-friendly and secure entrance into web3 for all individuals.
Eowyn Chen, CEO of Trust Wallet, expressed, “As leaders in the Web3 wallet sector, we are excited to promote Account Abstraction (AA) technology to a broader community. We remain committed to developing a seamless and inclusive Web3 platform for widespread adoption, while continuously enhancing security and user onboarding, particularly for those who are new to Web3.”
Chen also remarked, “By merging AA technology with user-friendly yet secure key management strategies, we anticipate a notable improvement in the user experience, especially as we approach what could be an upcoming bull market.”
With integrated gas fee abstraction, SWIFT supports gas fees over 200 tokens - a staggering 350% increase from current services - thanks to collaborations with Stackup and Biconomy. Furthermore, intuitive features such as one-click transactions and biometric Passkeys are tailored to eliminate the common obstacles that newcomers face, making the transition into web3 both safe and straightforward.
Enhancing Security and Access in the Web3 Ecosystem
Trust Wallet prioritizes security in its vision for SWIFT, embedding protective measures right from the design phase. Rigorous internal reviews alongside independent evaluations by respected firms such as Halborn and Certik affirm Trust Wallet’s dedication to user safety and defense against potential threats. cyber threats .
During its public beta debut, SWIFT stays true to Trust Wallet’s commitment to supporting diverse chains, initially covering seven cost-effective and efficient EVM major chains, including Arbitrum, Polygon, BSC, opBNB, Base, Optimism, and Avalanche, with intentions to grow its offerings moving forward.
SWIFT is available as an alternative wallet option within the Trust Wallet app, compatible with both Apple iOS and Android devices. Users have the flexibility to opt for the new SWIFT beta or stick with the traditional wallet wallet type that has earned the trust of over 80 million users worldwide.
As the landscape of the industry continues to progress, Trust Wallet aims to empower users to manage their digital assets securely in the evolving decentralized finance environment.
Disclaimer
In line with the Trust Project guidelines , do keep in mind that the information presented on this page is not intended and should not be seen as legal, tax, investment, financial, or any advisory services. It's crucial to only invest what you can afford to lose and to seek independent financial guidance if you have any uncertainties. For additional details, we recommend referencing the terms and conditions along with the help and support sections provided by the issuer or advertiser. MetaversePost strives for accuracy and unbiased reporting, but market dynamics can change without prior notice.
