Kraken Wallet launches its own open source digital wallet

The Kraken Wallet exchange, the second largest in the United States, announced its first open source wallet. With this development, it launches itself into competition in this field alongside Coinbase and MetaMask, as well as Trezor and Ledger.

“The new Kraken Wallet self-custodied wallet is available to both Kraken users and non-users.” Initially, it will include eight blockchains: Bitcoin, Ethereum, Ssolana, Optimism, Base, Arbitrum, Polygon and Dogecoin

Being open source, Kraken Wallet will give access to developers who find vulnerabilities through its open source grant program, and if errors are detected they will be able to improve the wallets.

According to the platform, the wallet will collect the “absolute minimum amount of data to function as a wallet,” offering a high degree of privacy, which is one of the features most valued by cryptocurrency users.

Kraken’s own infrastructure shields IP addresses and prevents the exposure of “users’ identity and location information from potential external exposure.”

Eric Kuhn, Chief Product Officer at Kraken Wallet, said: “Kraken Wallet is how we invest in the ‘your keys, your crypto’ ecosystem, which is vital to the existence of permissionless financial access. We welcome other wallets, but we are going to focus on building the best all-in-one cryptocurrency wallet that is open source, secure and private.”

M.Pino

Source: cripto247

(Reference image source: PiggyBank in Unsplash)

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