Bitcoin.com Wallet adds several ERC-20 tokens
The product expansion includes representatives of the DeFi world, the Metaverse, and the largest stablecoins.
Bitcoin.com has announced its non-custodial wallet app has added support for a large number of ERC-20 tokens to let users hold them, manage them and swap them between each other from a single app.
Bing fully non-custodial means that users manage their private keys independently, which eliminates the risk associated with third-party custodians. Non-custodial wallets are mostly targeted for use in payments, offering a simple UI to manage and spend crypto assets.
The Bitcoin.com Wallet now boasts an intuitive interface that makes it easy for users to swap between more than 100 assets, including representatives from the DeFi world, such as ALCX, DYDX, FXS, CVX, and LDO; Metaverse and NFT tokens like LAND, MANA, and APE; as well many other infrastructure and miscellaneous tokens like GRT, MATIC, BAT, OCEAN and others.
The product expansion, which also includes all major stablecoins, such as DAI, USDC, USDT, FRAX, USDP, and GUSD, will allow Bitcoin.com Wallet to better serve its millions of users.
Founded in 2015, Bitcoin.com offers educational materials, a news feed, and fully self-custodial products for buying, spending, trading, investing, and earning with crypto.
Bitcoin.com raised $33.6 million in May
The announcement follows a $33.6 million private token sale in May 2022 with the sole purpose of funding an expansion of Bitcoin.com’s token ecosystem, VERSE.
The private token sale was led by top investors in the space including Digital Strategies, KuCoin Ventures, Blockchain.com, ViaBTC Capital, Redwood City Ventures, 4SV, and BoostX Ventures.
The financing round for Verse, a rewards and utility token for the Bitcoin.com ecosystem, was also bankrolled by many industry leaders that came together to further solidify the project. This includes individual thought leaders and influencers like Roger Ver, Jihan Wu, and David Wachsman.
The relatively big funding highlights how the blockchain and crypto publishers are growing in prominence. In Bitcoin.com’s case, the company claims that it has created nearly 30 million wallets alongside over five million monthly active users.
As such, Bitcoin.com decided to tap into its customers’ loyalty with the launch a mechanism to reward them for buying, selling, spending, swapping, investing, and staying informed about crypto. That mechanism is Verse, a cross-chain token built on the ERC-20 standard with a focus on expanding into low-fee, EVM-compatible chains.
Two thirds of Verse tokens are reserved for the community in the form of a development fund and ecosystem incentives and rewards. The latter includes staking rewards, airdrops, yield for liquidity providers on the soon to be launched Verse DEX, and more.