DUBAI, UAE, February 19th, 2024, Chainwire

Trust Wallet, the largest mobile self-custody wallet in web3, unveils the public beta test of SWIFT — a smart contract wallet powered by Account Abstraction and achieved in partnership with Biconomy’s Paymaster and Bundler infrastructure — to a base of 80 million users.

Existing within the traditional Trust Wallet app, SWIFT gives users the option to choose the new beta, which offers UX, security and practical benefits powered by Account Abstraction, including easy set-up, one-click transactions, and seamless gas fees management while executing transactions.

Designed to streamline and simplify the web3 onboarding experience for web2 users, SWIFT uses a Passkey protected by biometrics to solve major UX pain points. This represents a significant step forward in mass adoption.

A New Era of User-Centric, Mass Adoption

With a keen focus to empower both seasoned CeFi users and web3 newcomers familiar with web2-like UX, SWIFT aims to onboard more crypto users with the following key features.

1. Convenient SWIFT Set-Up — SWIFT set-up takes seconds, leveraging Biconomy’s Account Abstraction-compliant SDK to remove the hassle of seed phrase management with web2-like familiarity.

2. Easy Access with Passkeys — Based on WebAuthn standards, users can use Passkeys protected by biometrics and linked to iCloud or Google accounts, to securely access and recover their SWIFT wallets easily, without Apple or Google possessing any of their private key details.

3. Seamless Gas Fee Management — With Biconomy’s Sponsorship Paymaster and Bundler infrastructure, which supports 200+ tokens, SWIFT takes the guesswork out of transaction costs by allowing users to pay for gas in the same ERC20 tokens transferred, or any token currently existing in the wallet, ensuring a seamless user experience.

Eowyn Chen, CEO of Trust Wallet, adds, “We are excited to partner with Biconomy to introduce SWIFT to the world. By leveraging Biconomy’s user-focused infrastructure that reduces onboarding complexities, and onboarding our trusted base of 80 million users, SWIFT has the potential to be the industry-defining web3 wallet standard.”

Ahmed Al-Balaghi, Co-founder and CEO of Biconomy, comments, “We are proud to partner Trust Wallet in this milestone announcement. SWIFT represents the next logical step to democratise access to web3, supporting our mission to empower users with the right tools for the mass adoption of web3.”

About Biconomy

Biconomy is a developer platform setting UX standards for seamless blockchain transactions. Biconomy empowers the world’s best developers to deliver web2-like experiences in their dApps. As pioneers of Account Abstraction (ERC-4337), Biconomy has on-boarded over 4M unique users across 400+ dApps while partnering with institutions and decentralised apps such as J.P. Morgan, Trust Wallet, dYdX, and The Sandbox.

About Trust Wallet

Trust Wallet is the leading “one-stop shop” self-custody wallet and gateway to web3 for people who want to fully own, control, and leverage the power of their digital assets. Trusted by 80 million users globally, Trust Wallet makes it simpler, safer, and convenient for millions of people around the world to experience web3, store and manage their digital assets—all in one place. With features such as the Trust Wallet Security Scanner, and support for 10+ million digital assets across 100+ blockchains, Trust Wallet is a true multi-chain crypto wallet that allows users to access the web3 world safely, and without limits.


Jamie Kingsley

Disclaimer: Press release sponsored by our commercial partners.

Stay on top of crypto news, get daily updates in your inbox.