Avara Simplifies Family Wallet with Email and SMS for User Access
Avara, the parent company of the decentralized finance platform Aave, has enhanced its Family Wallet by replacing traditional seed phrases with email and SMS for easier wallet creation and recovery. This aims to attract more users.
- Family Wallet allows asset management across EVM networks using biometric authentication tied to user devices.
- A new web dashboard enables account management, sending, receiving, and organizing assets.
- Concerns about crypto custody after events like FTX have led to increased interest in self-custody wallets.
- Avara CEO Stani Kulechov announced that users can sign up using email or phone numbers via the Family iOS app.
- Avara introduced a ConnectKit feature for developers to integrate the Family Wallet.
- Other seedless wallets like Zengo, Argent, and Coinbase Wallet utilize multi-party computation and biometrics for security.