Worldcoin’s Tools For Humanity has acquired Ottr Wallet, a Solana-based digital wallet that launched 18 months ago.
Ottr Finance announced the acquisition on Thursday, with the startup’s CEO Aleksei Zakharov noting in a blog post that the acquisition marks a new chapter for Ottr Wallet.
“Joining Tools for Humanity marks a new chapter for us, combining our expertise with theirs to advance the world of digital identity and finance. I am extremely proud of our team and grateful to everyone who has supported us from the beginning of this journey,” said Zakharov.
Today we are excited to announce that Ottr has been acquired by @tfh_technology, a contributor to @worldcoin. After 18 months of building a next-generation crypto experience for consumers, we’re joining forces to take the World App to the next level! pic.twitter.com/eNBymyLnhw
— Ottr
(@ottrfinance) February 29, 2024
Ottr to sunset wallet
After this development, Ottr Finance is closing its wallet now that the team is joining Tools for Humanity. According to the Ottr team, wallet users can start exporting their seed phrases and private keys to Solana-compatible wallets. These include Phantom and Solflare.
The Ottr backend will remain operational until June 1, 2024 before the Ottr app is removed from the App Stores.
Meanwhile, the Ottr team will now focus on helping develop the World App – Worldcoin’s digital wallet. Data on the Worldcoin website shows that there have been 3.86 million World ID signups since the Sam Altman co-created project launched in July 2023.
Users have claimed more than 82.6 million WLD tokens since launch, while the number of transactions on the World App has reached 31.1 million in 220 days.
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