Magic Square, a pioneering Web3 app store platform backed by Binance Labs, has announced a new partnership with Exodus Movement, Inc. (OTCQX: EXOD).
This partnership brings Exodus’ innovative Passkeys Wallet to Magic Square’s ‘Magic Store’ and ‘Magic Launchpad’, giving users an easy and secure way to create and manage crypto wallets directly within the app.
The Passkeys Wallet integration is designed to give users a streamlined experience, allowing them to set up a crypto wallet in just a few taps without having to install any browser extensions.
The wallet supports a wide range of authentication methods, including FaceID and TouchID, and offers a seamless multi-chain experience across various blockchain networks, including Bitcoin, Polygon, Solana, Ethereum and more. Additional networks are expected to be added soon, further expanding the wallet’s reach and functionality.
Improved security and user experience
One of the key features of the Passkeys Wallet is the use of Multi-Party Computation (MPC) technology, which significantly improves security by requiring password authentication for every wallet action.
This technology ensures that users can manage their crypto assets with greater peace of mind, knowing that their wallet is protected by industry-leading security measures.
The integration also allows users to complete Know Your Customer (KYC) processes and purchase cryptocurrencies directly with a card from the Magic Store, while enjoying a unified experience across multiple blockchain networks.
This development is expected to reduce user churn and attract a broader user base to the Magic Square platform, contributing to the growth of the Web3 ecosystem.
Strategic collaboration for the adoption of Web3
Magic Square’s Chief Operating Officer, Michael Landsberger, emphasized the importance of the partnership, stating:
We’re excited to integrate Exodus’ Passkeys Wallet into the Magic Store, Magic Launchpad, and across our entire ecosystem. This integration represents a significant step forward in simplifying the crypto experience, allowing our users to manage their assets securely and easily within a familiar interface. It also improves the onboarding process for Web2 users as they move to Web3, paving the way for the mass adoption of crypto across our products.
Exodus CEO JP Richardson echoed this sentiment, noting the partnership’s potential to improve the Web3 user experience.
Passkeys Wallet’s integration with Magic Square’s ‘Magic Store’ enhances the user experience by providing a seamless and secure way to manage and spend crypto assets. This partnership with Magic Square is a testament to our commitment to improving the Web3 ecosystem by making it more accessible and secure for all users.
Both companies are committed to driving innovation within the Web3 space, with a focus on improving the multi-chain experience for users.
By combining Exodus’ advanced wallet technology with Magic Square’s comprehensive Web3 platform, the partnership aims to make the crypto ecosystem more accessible and secure and support the ongoing transition from Web2 to Web3.
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