The ever-evolving world of Web3 and cryptocurrencies has just received an exciting jolt with the recent announcement of Phantom, a Solana wallet originally created by Ethereum developers. The news that’s causing a stir in the crypto ecosystem is that users can now exchange and transfer Bitcoin, Ordinals and BRC-20 tokens thanks to Phantom. Let’s dive into the details to understand the impact of this major update.
To Infinity and Beyond: Phantom Integrates Bitcoin, Ordinals and BRC-20 Tokens
Phantom, already renowned as a Solana wallet, is expanding its footprint by becoming compatible with a variety of chains. This significant development was recently announced, with the ability for users to trade and transfer Bitcoin, Ordinals and BRC-20 tokens. This new feature, still in beta, offers increased flexibility to users, with the option of opting for 100%.
Phantom’s Vision: From Solana to Multichannel Interconnectivity
The addition of Ethereum and Polygon support to the portfolio marked its first steps towards multichain. Brandon Millman, Phantom’s co-founder and CEO, expressed the company’s vision when he said, “We believe the future of digital asset management lies in cross-chain interoperability.” This ambitious strategy has clearly paid off, making Phantom a major player in the crypto wallet ecosystem.
Since its launch in 2021, it has risen rapidly to become a popular wallet, boasting over 3 million active users around a year ago. Created by Ethereum developers, the wallet stands out for its browser extension enabling access to decentralized finance applications (DeFi). In 2022, Phantom raised an impressive $109 million in its Series B round, led by Paradigm and with participation from a16z, Variant, Solana Ventures and Jump Crypto.
Phantom Continues its Quest for Innovation
Its announcement to extend its support to Bitcoins, Ordinals and BRC-20 tokens testifies to its commitment to innovation and adaptation in the dynamic world of cryptocurrencies. This update, currently in beta, offers users a unique opportunity to explore new dimensions of the crypto ecosystem, reinforcing Phantom’s position as a major player in the industry.
