According to Decrypt, Singapore-based wallet provider Account Labs announced the completion of a $7.7 million financing round led by investors including Amber Group, MixMarvel DAO Ventures and Qiming Venture Partners.
This strategic investment comes with the launch of UniPass Wallet, a self-custodial wallet focused on peer-to-peer (P2P) stablecoin transfers. The wallet will also utilize account abstraction to improve the user experience.
Sometimes referred to as “smart wallets,” crypto wallets that enable account abstraction are able to provide many of the same features as online banks, including the ability to schedule token transfers, transfer permissions, or perform batch transactions.
Adding account abstraction, and the flexibility it brings, also means UniPass will allow new users to create new wallets via Google Sign-in, as well as top up via Mastercard and Visa cards or Apple Pay.
Additionally, account abstraction enables the UniPass wallet to implement “gas-free” transactions.
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