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 integrated, non-custodial wallet couples accessibility with security in Web3 to ensure users maintain 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, founder and CEO of Cogni. “This Multi-Chain Wallet is proof that Web3 services can reinvigorate traditional banking products and place more financial control in a consumer’s hands 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 supports blockchains including Binance, Bitcoin, Ethereum, Litecoin, Solana, and others, while accommodating non-fungible tokens (NFTs) on all supported blockchains. Users will be able to hold their NFTs, and other non-fungible tokens across multiple blockchains, all in the Cogni app. Users will also be able to send, receive, and store cryptocurrencies and NFTs to easily readable wallet addresses using Unstoppable Domains integration (ERC 20, 72, 1155 contracts).
Unlike major crypto exchanges, Cogni’s users maintain sole ownership of the private keys that control their digital assets. These security measures are grounded in the wallet’s multi-party computational technology that enables recovery options, and ensures users have the security, safety, and compliance of traditional banking integrated 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 safely,” said Simon Grunfeld, Head of Web3 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 ensure a seamless and safe digital experience for all consumers. Users now have higher requirements for due diligence from their platforms, and this Multi-Chain Wallet propels Cogni as a frontrunner in regulatory compliance.
Cogni’s new Web3 offerings expand its lifestyle-focused services beyond the confines of traditional Web2 digital banking. With new Web3 banking products on the horizon, Cogni plans to continue to offer users frictionless access to traditional, and non-traditional financial services.