XDEFI Releases Cross-Chain Wallet for DeFi, NFTs

XDEFI Wallet, which last month raised $6 million, has released a rival to MetaMask that was built with decentralized finance (DeFi) and non-fungible tokens (NFTs) in mind and allows users to interact across multiple blockchains.

• The wallet, available as an extension for the Chrome web browser, will look to challenge MetaMask, the non-custodial wallet that in August said it had more than 10 million active users.
• XDEFI offers access to chains such as THORChain and Terra and aims to allow users to move between protocols easily and automatically add new chains. Support for the Arbitum, Avalanche and Solana blockchains will be added in due course, XDEFI said Tuesday.
• The wallet also offers automatic detection of NFTs and a drag-and-drop NFT display grid.
• Features of the wallet include using proprietary gas algorithms to give users a speed boost when the network is more congested.
• The London-based company’s September funding round was led by Mechanism Capital and Defiance Capital, and joined by Alameda Research, Animoca Brands and Sino Global.
• The release of the wallet coincides with crypto exchange Crypto.com unveiling a web browser extension that allows users to connect DeFi wallets with decentralized apps. Crypto.com supports the Ethereum blockchain and the Cronos testnet, with support for the Cronos mainnet and other networks to follow soon, according to an announcement Tuesday.

Read more: MetaMask Adds Custodians BitGo, Qredo, Cactus in Push for Institutional DeFi Users

CORRECTION (OCT. 13, 8:09 UTC): Corrects funding round leaders in fifth bullet point.