Coinspeaker
XDEFI Rebrands to Non-custodial Wallet Dubbed Ctrl
Web 3.0 wallet XDEFI is rebranding to Ctrl, a new non-custodial alternative designed to simplify the onboarding of new users and enhance the overall experience. Precisely, the new Ctrl wallet will promote the seamless onboarding of users into Web 3.0, making the beginning of their on-chain journey easy. The beta launch of the wallet is scheduled to go live in August.
XDEFI, Now Ctrl, Wallet Focuses on Providing Wholesome User-experience
The decision to take this next step comes from the discovery that more than 90% of crypto users are not on-chain. Therefore, XDEFI, now Ctrl, aims to help those who fall into this category. The design of the new non-custodial wallet is such that it gives users a wholesome experience. Markedly, it empowers crypto holders to explore the world of Decentralized Finance (DeFi) and Web 3.0 opportunities.
Ctrl encompasses a fusion of Web 2.0 and Web 3.0 features as it uses the capability of the former to address the pain points of the latter. The Ctrl wallet abstracts the need for gas fees on every chain, thereby providing frictionless onboarding and enhanced user experience. Compared to other Web 3.0 wallets, Ctrl offers support for more blockchains with 1,800 networks integrated into it.
XDEFI CEO Emile Dubié acknowledged self-custody as a fundamental right, citing that the firm’s responsibility as a wallet provider is to make it secure and accessible to everyone. In her opinion, people should face no challenge with having full sovereignty over their financial holdings. They should not be presented with the same difficulties associated with traditional crypto wallets.
“As of today, we are the wallet with the most chain coverage. We have spent more than a year building a user experience on top of this technical advantage to make our products as intuitive as apps like Revolut. Ctrl is set to be the premier tool for onboarding millions of new users, regardless of their knowledge about crypto,” Dubié added.
Ctrl Promises Users Top-notch Security
Ctrl Wallets’ use of social login eliminates the need for seed phrase storage. Ctrl wallet is able to facilitate secure authentication via Google or even social media. Users are sure of enjoying secured on-chain interaction in addition to exploring economic opportunities on numerous blockchains. Also, Ctrl will make multiple wallet management simpler while eliminating the need for gas tokens.
In the meantime, there is a waiting list available for interested persons. Existing XDEFI users do not need to take any action as their previous wallets will be automatically upgraded to Ctrl when the launch finally happens.
Generally, the advent of non-custodial wallets became popular after Bahamian-headquartered cryptocurrency exchange FTX imploded in 2022. Many crypto enthusiasts feared for their asset holdings and began to seek safer alternatives. Digital asset companies equally saw it as a perfect opportunity to push out more non-custodial wallets.
Telegram, Nexo and MoneyGram are some of these firms that have introduced their non-custodial wallets over time.
