- Cwallet announces a newly-forged alliance with Microcosm Labs.
- The partnership combines the strengths of one of the world’s leading cryptocurrency wallets and a startup focusing on the Toncoin (TON) ecosystem.
Cwallet x Microcosm Labs Partnership
World-renowned cryptocurrency wallet platform Cwallet announced a partnership with blockchain startup Microcosm Labs today, April 29. According to the press release of the parties, the alliance will allow them to merge the secure crypto wallet solution of the former with the blockchain apps and services of the latter. The desired outcome of this fusion is the elimination of the major hindrances in crypto adoption and innovation.
Cwallet CEO Frank Ling believes cryptocurrencies hold the key to the transformation of the way people interact with money and digital assets. However, he pointed out that security exploits, complexities in usability, and barriers in real-world use cases present a roadblock to such a goal.
To address these, Cwallet is expanding its crypto wallet framework by opening a gateway for Microcosm Labs to strategically invest and harmonize its goals with it.
Benefits to the Parties
The newly-inked collaboration will allow the decentralized finance (DeFi) wallet provider to boost its security and storage solutions while allowing the alignment of its roadmap and long-term interests with that of its partner.
Due to Microcosm Labs’ strong presence in the TON ecosystem, the joint venture will also open up Cwallet’s support to tokens generated within the Toncoin blockchain. Currently, its system is compatible with over 800 cryptos and 50 chains. Moreover, the company boasts millions of users worldwide for its service.
The deal will likewise let Cwallet enhance the features and functionality of its Telegram Bot. This comes hot on the heels of the platform’s growing popularity in crypto swaps, crypto loan services, and referral programs.
On the other hand, Microcosm Labs gains leverage on Cwallet’s platform when it comes to the promotion and marketing of its portfolio encompassing projects in DeFi, GameFi, non-fungible tokens (NFTs), and others. One of its incubated projects is TonUpP.
TonUP is Microcosm Labs’ core launchpad for the TON network. The platform aims to stand out in the realm of casual and hypercasual games while becoming a value carrier of social apps on Telegram. It is also gearing up to become a key player in the financial primitives, particularly in the areas of decentralized lending and payment.
All these, especially its target in the crypto lending and payment niches, could perfectly align with Cwallet’s present offerings in the same segment of the market.