- Magic Square and Exodus are working together to increase Web3 accessibility and security through Passkeys integration.
- Magic Square drives the adoption of crypto products through the groundbreaking Web3 App Store.
Binance Labs-backed Web3 App Store Magic Square has announced a partnership with Exodus Movement, a US-based Passkeys wallet integration company. Through this integration, Magic Square aims to improve the user experience on its platform by providing an easy-to-use interface and industry-leading security.
Details of the partnership
According to the announcementMagic Square introduces the Passkeys Wallet from Exodus to the ‘Magic Store’ and ‘Magic Launchpad.’ This integration allows users to create and fund a built-in crypto wallet directly within Magic Square with just a few taps.
The Exodus Passkeys Wallet is also built using Multi-Party Computation (MPC) technology. This improves user security by distributing private key management among multiple parties. MPC features such as spending limits increase user safety while maintaining self-control.
The integration will also enable the App Store to create new revenue streams by reducing drop-off rates and growing its user base. Furthermore, the Exodus Passkeys Wallet uniquely supports various blockchain networks. The supported networks include BitcoinPolygon, Solana, EthereumAvalanche C-Chain, Base, BNB Chain and Optimism. As a result, users can now enjoy a multi-chain experience and flexibility on Magic Square.
Secure login options such as FaceID and TouchID are available in the Passkeys wallet, allowing users to create a wallet without installing a browser extension. After submitting a Know Your Customer (KYC) form, users can purchase crypto using a credit or debit card from the Magic Store.
The partnership highlights Magic Square and Exodus’ commitment to fostering innovation and improving the multi-chain experience for crypto users. Founded in 2015, Exodus is one of the most popular self-custody crypto wallets with a mission to make digital assets easy for everyone. The multichain wallet is available for desktop, browser and mobile and supports more than 20,000 pairs of digital swaps.
Michael Landsberger, COO of Magic Square, expressed his excitement about the partnership, saying, “This integration represents a significant step forward in simplifying the crypto experience, allowing our users to manage their assets securely and easily within a familiar interface.”
Recent developments in the Magic Square
Meanwhile, Magic Square is the first Web3 App Store supported by Binance Labs. It is designed to increase user engagement and address asset acquisition challenges. The platform consistently strives to enhance user experience with its community-driven approach and partnerships with leading industry players.
As noted in our earlier afterMagic Square has announced an integration with the 1inch Swap API to make users’ DeFi journey smoother and more efficient. At the same time, it opened a $SQR Swap Competition worth $25,000 to incentivize users for their active participation and involvement. Each exchange transaction earned users Karma points, further encouraging active participation within the ecosystem.
Before that, Magic Square launched a staking program for $SQR token holders, rewarding users for their support. Through the program, token holders earned a 20% annual percentage rate (APR) by staking their $SQR tokens in multiple pools, with reward rates varying per pool.
