We’re acquiring Bitski, a leading provider of embedded wallets.
With this acquisition, the highly-experienced Bitski team will be joining us to bring embedded wallets to Solana, make onboarding easier for users and developers, and unlock new, exciting use cases.
Why Bitski
Founded in 2016 by co-founders Donnie Dinch, Julian Tescher, and Patrick Tescher, Bitski is a leading provider of embedded wallets.
With nearly a decade of experience, the team are pioneers and experts with a proven track record in web3. Since launch, Bitski has built developer-friendly web3 tools and worked with major brands such as Adidas, Major League Soccer (MLS), and WWE—all while being backed by notable investors, such as Andreessen Horowitz and Coinbase Ventures.
So, what does Bitski do? Through its embedded wallet technology and infrastructure, Bitski allows developers to create rich wallet experiences and users to sign-in to apps using their email address or Apple, Google, or X accounts.
As we got to know the company, team, and product better, we knew it was the perfect strategic partner to help us pave the way for mainstream adoption.
"We’re thrilled to welcome Bitski to the Phantom family,” said Brandon Millman, CEO of Phantom. “By bringing the Bitski team to Phantom, we’re not just adding technological expertise, we’re aligning with a team that shares a common vision that users should be able to sign into web3 apps as easily as any web2 app”.
TLDR
Experienced team: Having built embedded wallet technology and infrastructure since 2016, the Bitski’s specialized knowledge and experience are unmatched.
Shared vision: Like us, Bitski believes in accelerating adoption by making crypto safe and easy to use. And they’ve proven their ability to ship and iterate on that vision.
Easy onboarding: Bitski combines a web2-like user experience with the benefits of web3 ownership—all without compromising security.
The future of onboarding
"We're really excited about Phantom bringing embedded wallets to Solana," said Raj Gokal, cofounder of Solana. "This move is going to make it so much easier for people to onboard to dapps and navigate the Solana ecosystem. Phantom is doing great work to simplify things and improve the overall user experience, and we couldn't be happier to support their efforts."
No need for a seed: For many people, managing and memorizing seed phrases is a major point of friction—and even a complete deterrent. To resolve this, we’re going to make it as easy to sign-in and use web3 apps as it is to use web2 apps. How? Seedless self-custody.
A modern solution to safety and security: Is it possible to have something simpler than a hardware wallet, but safer than a bank? We think so. And we’re going to make it easy for anyone to navigate web3 without exposing their keys or allowing apps to sign without their permission.
New, exciting use cases: With a simpler-than-ever onboarding process, we’re going to attract new crypto users and developers who wouldn’t have been able to participate in the digital economy. With more diverse people entering crypto, new needs and opportunities will arise, unlocking further innovation and app development.
Next steps
We’re thrilled to welcome Bitski to the Phantom family! We’ve already begun the onboarding process, and, over the coming weeks, we’ll be fully-integrating the Bitski team and product into our own.
As for users, you can expect a seamless transition. Bitski’s existing products will be sunset in the coming months and users will be notified all along the way. As for us, we’ll be working hard with the Bitski team to launch Phantom’s own embedded wallet.
“Teaming up with Phantom has us fired up because we share the same relentless passion for creating the best wallet experience in crypto,” said Bitski co-founder and CEO Donnie Dinch. “Wallets will be the most important consumer application over the next 20 years. The winner will have catered to today's users and prepared for billions more. We can't wait to make this happen at Phantom.”
Now, let’s onboard the masses!
PS: If you're a developer—especially on Solana—and you're interested in contributing to the future of onboarding and embedded wallets, please reach out to [email protected].