- Bloom Labs just announced its new omnichain wallet for keeping cryptocurrencies, decentralized finance (DeFi) investments, and non-fungible tokens (NFTs).
- The company was the brainchild of IOTA Foundation alumni.
Bloom Wallet Launch
Bloom Labs just launched an all-in-one wallet with support for crypto, NFTs, and management of DeFi investments on Wednesday, April 3. The product is now available to download for Windows, Mac, and Linux users following the release of its Early Access version last November.
According to its press release, the project was infused with funding from venture capitalists and angel investors, including Cointelegraph, Plassa Capital, Outlier Ventures, and Heartfelt Capital (formerly APX). The release of its initial version was immediately met with 5,000 users, which has since grown upon its public rollout. Together with Transak, Bloom offers access to cryptos in 170 countries.
The new product stands out for its European Union Markets in Crypto-Assets Regulation (EU MiCA) compliant feature with its streamlined Know Your Customer (KYC) verification process across several Web3 service providers that do not endanger the personal information of its users from falling into the wrong hands. The reusable identification solution was made possible through a joint effort with the IOTA Foundation, Spyce5, IDNow, and walt.id. Meanwhile, it has undergone an extensive security audit with Auditone to ensure its integrity prior to its release.
Future Plans
Thanks to the success of its Early Access stage and the positive feedback of the Web3 and crypto community of its public launch, there’s more in store for Bloom wallet users. Future plans include the extension of its services to Bitcoin (BTC), Ethereum (ETH), Polygon (MATIC), and other key Layer 1 and 2 Ethereum Virtual Machines (EVMs).
Furthermore, Bloom is looking to introduce an innovative social login compatible with Web2 open authorization (OAuth) credentials like iCloud and Gmail. These underscore the roadmap of Bloom focusing on turning its platform into a versatile wallet for many applications both in Web2 and Web3 projects.
Official Statements of Bloom and IOTA
“Bloom represents the culmination of years of innovation and user feedback,” said Bloom Labs co-founder and CEO Charlie Varley in an interview with Cointelegraph. “We’re redefining what the core Web3 experience looks like.”
“Wallets are no longer just tools for signing transactions, but their own comprehensive ecosystems,” he added.
Varley is one of the pillars of Bloom who founded the company in July last year in London, UK. His team is known for their expansive portfolio comprising major projects in the industry, including IOTA’s Firefly wallet and the now-defunct Trinity wallet.
“Bloom’s launch is a community milestone, showcasing the strength of IOTA and Shimmer’s architecture and our commitment to open-source collaboration,” complimented IOTA Foundation co-founder and CEO Dominik Schiener.