XDEFI will challenge MetaMask’s dominance of the browser wallet space by offering a new user experience for decentralized finance and nonfungible tokens.
XDEFI Wallet, a browser-based wallet service for decentralized finance (DeFi) and nonfungible token (NFT) users, launched its public version on the Chrome Store.
Similar to the widely-used browser extension wallet MetaMask, the XDEFI Wallet supports DeFi applications across multiple blockchains. According to the announcement, the browser wallet works with the Ethereum (ETH) network and other Ethereum Virtual Machine-compatible chains.
Supporting THORchain and Terra, XDEFI Wallet has plans to include Avalanche, Solana and Arbitrum.
In a previous conversation with Cointelegraph, Émile Dubié, co-founder and CEO of XDEFI Wallet, argued that cross-chain compatibility was necessary to ensure better utilization of Web 3.0.
“No need to switch from a wallet to another, no need to deal with several seed phrases — just use the same vehicle to access different destinations,” Dubié told Cointelegraph.
XDEFI Wallet features an “Ape Mode” that reportedly utilizes a proprietary gas algorithm to offer faster transaction throughput for users. According to Dubié, Ape Mode will be an “indispensable edge” for DeFi and NFT users.
Given the focus on DeFi and NFTs as part of the strategy to challenge MetaMask, XDEFI Wallet also features some “built for NFT” features.
According to the announcement, XDEFI offers automatic in-wallet NFT detection capabilities as well as a grid display for collectibles.
As a wallet platform, XDEFI will also enable crypto trading with users able to make fiat purchases for cryptocurrencies via payment gateway service Ramp.
XDEFI Wallet previously received backing from investors like Mechanism Capital, Sino Global Capital, Morningstar Ventures, Alameda Research, CoinGecko and others to the tune of $6 million.