Source: news.google.com
Non-custodial multi-chain wallet is the first of its kind to be offered among Web2 banking services
NEW YORK, December 21, 2022–(COMMERCIAL WIRE)–Cogni, the lifestyle-focused banking platform bridging the gap between Web2 and Web3, has announced the launch of its new Multi-Chain Wallet, the first of its kind to integrate Web3 services within a traditional Web2 banking platform. This non-custodial integrated wallet combines accessibility with Web3 security to ensure that users retain full control over their own private keys.
“The average consumer struggles to adopt Web3 services due to poor integration within existing platforms and overly complex user experiences,” said Archie Ravishankar, Cogni founder and CEO. “This multi-chain wallet is proof that Web3 services can reinvigorate traditional banking products and place more financial control in the hands of consumers than ever before.”
While Cogni’s existing platform offers traditional Web2 banking services, this multi-chain wallet adds a new dimension to the platform’s offerings. The wallet is compatible with blockchains including Binance, Bitcoin, Ethereum, Litecoin, Solana, and others, and supports non-fungible tokens (NFTs) on all supported blockchains. Users will be able to hold their NFTs and other non-fungible tokens on various blockchains, all in the Cogni app. Users will also be able to send, receive and store cryptocurrencies and NFTs in easily readable wallet addresses through the integration of unstoppable domains (ERC contracts 20, 72, 1155).
Unlike major crypto exchanges, Cogni users maintain sole ownership of the private keys that control their digital assets. These security measures are based on the wallet’s multi-party computational technology that enables recovery options and ensures that users have the security, protection and compliance of traditional banking built into the Web3 ecosystem.
“We are proud to launch this new wallet as a conduit for traditional banking services and Web3 experiences to coexist seamlessly and securely,” said Simon Grunfeld, Web3 Director at Cogni. “Cogni welcomes increases in regulatory oversight to ensure that all users have absolute confidence in their platforms.”
In this rapidly evolving regulatory environment, Web3 compliance is crucial to ensuring a seamless and secure digital experience for all consumers. Users now have increased due diligence requirements from their platforms, and this multi-chain wallet propels Cogni as a leader in regulatory compliance.
Cogni’s new Web3 offerings extend its lifestyle-focused services beyond the confines of traditional Web2 digital banking. With new Web3 banking products on the horizon, Cogni plans to continue offering users frictionless access to traditional and non-traditional financial services.
About Cogni
Cogni is a leading lifestyle-focused digital banking platform founded in 2018. We provide members with fee-free banking, access to 55,000 free ATMs worldwide, single-use cards, and access to discounted gift cards . Cogni also allows users to track the carbon emissions of each transaction. Cogni aims to bridge the gap between Web2 and Web3 services by creating a fully compliant digital banking experience for mainstream user adoption with unique features. Cogni is headquartered in New York City, with a second office in San Francisco.
The firm’s investors include Hanwha Asset Management, the CXO Fund, Solana Capital, ROK Capital, 35 Ventures, Bluewatch Ventures, World Quant, Hard Yakka and other angel investors and venture capital firms. To learn more about Cogni, visit http://getcogni.com or download our app on the App Store or Google Play.
View the source version at businesswire.com: https://www.businesswire.com/news/home/20221221005128/en/
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