Singapore, Singapore--(Newsfile Corp. - February 29, 2024) - In a significant move within the digital wallet and blockchain industry, Ottr Wallet has been acquired by Tools for Humanity (TFH), a key contributor to the Worldcoin project aimed at creating the world's largest human network to foster trust online and expand access to the global economy in the AI era. This acquisition marks a pivotal moment for both Ottr Wallet and TFH as they endeavour to revolutionize digital identity and finance.

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Ottr Wallet team with Tools for Humanity team
Aleksei Zakharov, Alex Blania (TFH CEO), Uddhav Marwaha, Tiago Sada (TFH Head of Product)

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Founded just 18 months ago, Ottr Wallet rapidly emerged as a leading self-custody wallet solution, achieving notable milestones such as the integration of US bank accounts, implementation of gas-free transfers and trades, introduction of passwordless cloud backups, and the launch of a comprehensive decentralized application (dApp) store. The wallet's innovative approach attracted over 25,000 active monthly users, demonstrating significant growth and impact within the digital wallet space.

The collaboration between Ottr Wallet and TFH began after the teams met late last year. Ottr quickly understood the value in helping Worldcoin build the world's largest human network to improve trust online and access to the global economy in the age of AI, and TFH was particularly impressed by Ottr Wallet's achievements. TFH proposed that the Ottr team lead the development of their consumer application and mobile wallet, World App, which currently serves over 3 million users monthly. With the first universal proof of personhood verification (World ID) and the user-friendly World App, Worldcoin and its contributors like TFH have created a powerful growth engine to provide more people access to the digital economy.

With the acquisition, Ottr Wallet will be sunsetted as the team fully transitions to focus on the development of the World App. Ottr Wallet's backend service will continue to operate for the next three months to facilitate a smooth transition for its users to other Solana-compatible wallets, with comprehensive guidance provided for exporting seed phrases and private keys.

As part of Tools for Humanity now, the team is excited to continue building innovative financial experiences and contribute to the growth of one of the fastest-growing applications in the digital space.

Guide to export Ottr Wallet:

Media Contact:
Company name: Ottr Finance
Contact name: Uddhav Marwaha

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