The constantly evolving world of Web3 and cryptocurrencies just received an exciting jolt with the recent announcement from Phantom, a Solana wallet originally created by Ethereum developers. The news making waves across the crypto ecosystem is that users can now swap and transfer Bitcoin, Ordinals, and BRC-20 tokens using Phantom.
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 evolution was recently announced, giving users the ability to trade and transfer Bitcoin, Ordinals, and BRC-20 tokens. This new feature, currently in beta, offers increased flexibility to users, with the option to fully opt in.
The Phantom vision: From Solana to multichain interconnectivity
The addition of Ethereum and Polygon support to the wallet marked its first steps toward going multichain. Brandon Millman, co-founder and CEO of Phantom, expressed the company’s vision by stating: “We believe that 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 experienced a rapid rise to become a highly popular wallet, counting over 3 million active users about a year ago. Created by Ethereum developers, this wallet stands out for its browser extension that enables access to decentralized finance (DeFi) applications. In 2022, Phantom raised an impressive 109 million dollars during its Series B round, led by Paradigm with participation from a16z, Variant, Solana Ventures, and Jump Crypto.
Phantom continues its quest for innovation
Its announcement to extend support to Bitcoin, Ordinals, and BRC-20 tokens demonstrates its commitment to innovation and adaptation within the dynamic world of cryptocurrencies. This update, currently in beta, offers users a unique opportunity to explore new dimensions of the crypto ecosystem, thereby reinforcing Phantom’s position as a major player in the industry.
