VeChain Launches VeWorld, A Fully Decentralized Self-Custody Wallet

The newly-launched decentralized wallet is teased as the “gateway to the world of VeChain.”

VeChain, an enterprise-focused blockchain platform, has launched its native self-custody wallet dubbed “VeWorld.” The newly-launched wallet, expected to bring users a wide range of benefits, is one of the numerous developments the VeChain Foundation has up its sleeves for this year.

The Foundation announced the launch today through its Twitter account, with a link to an official Medium article unveiling the wallet. This development comes shortly after the VeChain network surpassed 2 million known addresses.

We’ve got exciting news! #VeWorld – our new official wallet, is now available: https://t.co/Yy8thhbvLm!

We’re continually lowering barriers to entry for #blockchain & crafting an optimal real-world #Web3 environment.

Build the future on $VET! #VeChainhttps://t.co/zO3Mj6qSt8 pic.twitter.com/8VqCBAMX5z

— VeChain Foundation (@vechainofficial) February 20, 2023

According to the announcement, “VeWorld” refers to the wallet serving as “the gateway to the world of VeChain.” The wallet allows users to access and manage their VeChain assets easily.

The Foundation has revealed that the wallet would improve the overall user experience of the VeChain ecosystem. Additionally, an extensive roadmap of features is planned for the wallet, suggesting that it will continue to evolve and improve over time. A dedicated team of developers from the Foundation will handle these upgrades every two weeks.

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VeWorld will be available as a web wallet to download at veworld.net. However, there are also plans to release mobile and desktop versions of the wallet in the third quarter of the year, giving users more flexibility in how they choose to manage their assets.

The need for self-custody has been repeatedly emphasized of late by industry players following the FTX blowout that led to billions in losses. U.S. Rep Warran Davidson has been highlighting the significance of self-custody since 2021. VeChain’s wallet couldn’t have been unveiled at a more opportune time.

The wallet features a myriad of cryptocurrency-related capabilities that cater to the needs of its users. These functions include managing crypto portfolios, setting up and importing wallets, engaging in secure transactions through decentralized applications (DApps), and managing cryptocurrency assets utilizing a Ledger hardware device.

In addition to the already available features, the team behind the wallet is meticulously developing a wide-ranging set of other cutting-edge capabilities, encompassing a direct fiat on-ramp option, a carbon emissions calculation tool enabling users and businesses to monitor their environmental impact, effortless integration of native NFTs, cross-chain bridges, incorporation with DEXs, as well as numerous other functions.

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