Zeal Emerges as a New Crypto Wallet Competitor
Date: 2023-11-24 Author: Dima Zakharov Categories: CRYPTO PAYMENTS, IN WORLD
A New Entrant in Digital Wallets
Former Revolut Vice President of Development, Hannes Graa, initiated the creation of Zeal in 2022, aiming to address the drawbacks of existing wallets. Graa emphasized the need for a secure and user-friendly wallet that seamlessly integrates with blockchain networks and the real world.
Facing Competition in the Market
Zeal enters a market where companies aspire to become the preferred digital wallet, catering not only to crypto enthusiasts concerned about asset protection but also to newcomers eager to safely purchase cryptocurrencies and engage with web3 applications.
Industry Investment in Wallet Technology
Major and minor companies are investing in the digital wallet market, striving to stand out. Binance, the world's largest cryptocurrency exchange, recently launched its independent storage wallet. Last month, leading software wallet provider Metamask announced a partnership with security firm Blockaid to enhance security measures.
Zeal's Approach to Security and Features
Zeal aims to tackle fraud and hacking concerns by providing advanced security checks and previewing Web3 transactions to prevent fraudulent activities. Additionally, Zeal's wallet will enable users to transfer stablecoins like USDC to their bank accounts at no charge, according to the company's statement.
Backing by Galaxy and Others
Galaxy, Framework, Variant Fund, and Northzone are among Zeal's investors, expressing confidence in its ability to blend design, security, and asset transparency effectively. Galaxy's General Partner, Will Neale, highlighted Zeal's capability in ensuring security and overall asset transparency, setting high standards for wallets.
Team Composition and Support
Besides former Revolut graduates, Zeal's team includes ex-employees from Coinbase and Spotify, indicating a diverse and experienced workforce driving the development of this new wallet solution.
