Phantom Acquires Bitski to Simplify Integration with Solana
Phantom, the leading crypto wallet in the Solana ecosystem, has acquired Bitski, a specialized wallet for web3 browser extensions.
This acquisition aims to integrate Bitski’s wallet technology into Solana, making the integration process easier for users and developers.
Simplifying Onboarding with Bitski Technology
The Bitski team will join Phantom to bring embedded wallets to Solana, addressing some of the challenges related to the adoption of web3 technologies, particularly on mobile devices.
Bitski’s integrated wallet technology allows users to simply sign up with an email, greatly simplifying access to decentralized applications without the need to download a separate mobile app or adopt a complex recovery phrase.
Growth and Expansion of Phantom in the Solana Ecosystem
Phantom has experienced significant user growth, doubling its user base in the past three months to reach 7 million monthly active users.
This growth comes amid a renewed interest in Solana and follows a successful fundraising round in early 2022, where Phantom raised $109 million at a valuation of $1.2 billion.
