Trust Wallet, one of the largest independent and multi-chain custodial wallets, has announced a partnership with Web3Auth to allow users to seamlessly log in and access Web3 services using their existing social login credentials, in addition to other security factors.
This collaboration marks another step towards improving user experience and accelerating mass adoption of Web3.
Trust Wallet’s newly deployed MPC (Multi-Party Computation) solution, powered by Web3Auth, eliminates the current scripted seed phrase requirement, protecting users from human error and single points of failure and thus strengthening account safety and security. Users will be able to access the Trust Wallet service directly and quickly using their existing Google, Apple, Telegram and Discord accounts, thus significantly reducing the barrier to entry for new Web3 users.
To enhance security and ease of use, users also have the option to use SMS OTP and email recovery. Currently, the MPC feature is still in beta and will be expanded to all users in the near future.
Previously, users only had two types of choices when it comes to primary wallets: custodial solutions with easier access but lower transparency, or full custodial solutions with more risk and complexity. This integration offers users an additional option with the new MPC two-factor solution, which allows Trust Wallet users to explore the Web3 world on over 70+ major blockchains in a seamless and secure way, while maintaining full ownership of their assets.
Eric Chang, Head of Product at Trust Wallet said:
This is an important step for us as it benefits everyone involved. Users can now enjoy an easy-to-use experience while still choosing a standalone custodial wallet to manage their cryptocurrencies. By integrating with Web3Auth, we continue to provide a better user experience and long-term value to boost wider adoption of Web3.
Zhen Yu Yong, Cofounder and CEO of Web3Auth said:
The missing seed phrase is a very messy business, and one of the main risks of billions of dollars worth of crypto losses. I believe this is just the beginning of the long-term adoption of Two-Factor Wallets for better security in the industry, and this partnership with Trust Wallet is a big step forward for us, in our efforts to democratize enterprise-grade MPC for everyone.