Trust Wallet Introduces SWIFT: A Smart Contract Wallet for Web3 Accessibility
Trust Wallet, the leading mobile self-custody Web3 wallet, has launched the public beta testing phase of SWIFT, a smart contract wallet powered by Account Abstraction (AA). The introduction of SWIFT aims to simplify and strengthen Web3 accessibility for a wider audience, with the goal of welcoming the next billion users to the industry.
What is SWIFT?
SWIFT is a smart contract wallet designed to address common challenges faced by newcomers in the Web3 space. It aims to streamline the perceived complexity, security concerns, and intricacies of secret phrases and private keys. With SWIFT, users can benefit from one-click transactions and Passkeys fortified with biometric protection.
SWIFT also features a native gas fee abstraction function that allows gas fee acceptance in over 200 tokens, a significant increase compared to existing market offerings. This has been made possible through strategic partnerships with Stackup and Biconomy.
The development of SWIFT prioritizes security, with rigorous protocols, internal audits, and external assessments conducted by Halborn and Certik. Ancilia provides continuous monitoring of smart contracts to further enhance user safety.
Eowyn Chen, CEO of Trust Wallet, expressed excitement about expanding AA technology to a broader audience. Trust Wallet aims to build a seamless and open Web3 hub for mass adoption while enhancing security and onboarding experiences for newcomers.
How applicable is SWIFT?
SWIFT is available as an additional wallet option within the Trust Wallet app, catering to users on Apple iOS and Android devices. Users have the choice between the new SWIFT beta and the traditional wallet type already embraced by 80 million users worldwide.
In addition, Trust Wallet demonstrates its commitment to multi-chain functionality by extending support to seven low-cost and scalable EVM major chains, including Arbitrum, Polygon, BSC, opBNB, Base, Optimism, and Avalanche. The company has plans for further expansion in the future.
During the beta testing phase, Trust Wallet has introduced gas discounts with the TWT token and gas fee sponsorships with partners to facilitate users in exploring the capabilities of AA.
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