Reported by Decrypt, Singapore-based wallet provider Account Labs announced a $7.7 million funding round led by investors including Amber Group, MixMarvel DAO Ventures, and Qiming Ventures.
The strategic investment comes in tandem with the launch of their consumer-centric application, UniPass Wallet, a self-custody wallet focused on peer-to-peer (P2P) stablecoin transfers.
The wallet will also leverage account abstraction to improve its user experience.
Sometimes called "smart wallets," crypto wallets that enable account abstraction are able to provide much of the same features of online banking. This includes things like scheduled token transfers, transfer permissions, or executing batched transactions.
Adding account abstraction, and the flexibility it brings, also means that UniPass will let new users spin up new wallets via Google logins, as well as top-ups with Mastercard and Visa cards, or Apple Pay.
Additionally, account abstraction allows the UniPass wallet to facilitate “gasless” transactions.
Stay updated with the most important cryptocurrency news and valuable insights, conveniently delivered to your email every day. Subscribe to the TokenInsight mailing list now!
Prefer social media? Follow us on Twitter, or subscribe to our Telegram channel!
If you have news reports or announcements that you want to reach a wider audience, feel free to email us at news@tokeninsight.com
Wallet
Fund Raising
