Phantom Wallet Expands Horizon with Bitcoin, Ordinals, and BRC-20 Token Support


In a groundbreaking move, Phantom, originally conceived as a Solana wallet by Ethereum developers, has unveiled its latest update, introducing support for trading and transferring Bitcoin, Ordinals, and BRC-20 tokens. This strategic expansion reflects Phantom's commitment to embracing a diverse range of blockchain ecosystems.

The newly added features are currently in beta, allowing users the flexibility to opt-in at their discretion. Phantom expressed gratitude toward Bitcoin in a recent post, acknowledging its pivotal role in the emergence of Solana, Ethereum, and the broader web3 landscape. The post emphasized the significance of Bitcoin, stating, "Without Bitcoin, there’d be no Solana, Ethereum, or web3. And for that, we’re forever grateful for Bitcoin and thrilled to launch it (in ₿eta) on Phantom."

Phantom, initially recognized as a Solana-centric wallet, began its journey into multichain functionality by incorporating support for Ethereum and Polygon blockchains. Brandon Millman, the co-founder and CEO of Phantom, articulated the company's vision, stating, "We believe that the future of digital asset management lies in cross-chain interoperability." This strategic decision aligns with the industry trend towards fostering seamless collaboration among different blockchain networks.

Since its inception in 2021, Phantom has rapidly gained popularity, boasting over 3 million active users as of a year ago. Developed by Ethereum pioneers, the wallet offers a browser extension for decentralized finance applications, contributing to its widespread adoption.

In a notable financial milestone, Phantom secured $109 million in Series B financing during early 2022. The funding round, spearheaded by Paradigm and featuring participation from a16z, Variant, Solana Ventures, and Jump Crypto, underscored investor confidence in Phantom's strategic direction and potential for further growth.

As the cryptocurrency landscape continues to evolve, Phantom's progressive approach to cross-chain compatibility positions it as a key player in the decentralized finance space. The latest update not only caters to the existing Solana user base but also extends a welcoming hand to the broader crypto community, marking a significant stride towards a more interconnected and interoperable blockchain ecosystem.


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