CamlCase, a company backed by the Tezos Foundation, has recently revealed that it is creating a mobile wallet for the Tezos (XTZ) coin.
In a blog post on Monday, the startup disclosed that the mobile wallet dubbed “Phoenix” had been in creation since the past months with immense support from the Tezos Foundation.
According to the announcement, the wallet is non-custodial and as such, the keys will be securely stored in the user’s mobile phone, and in the event, the phone is lost then, funds stored in the wallet will be regained via a seed phrase.
Phoenix open for Beta test
Users can also send and receive tokens easily on the wallet via CamlCase’s decentralized crypto exchange, Dexter, which will be incorporated into the mobile wallet. With the completion of the project being just a few weeks away, beta testing will soon commence.
Phoenix was created with the goal of providing users with an exciting experience of interacting with DeFi apps and actions will be taken to ensure that the core DeFi elements are integrated directly into the wallet.
The Pheonix wallet, when completed, will also provide support to various other new projects embarked on by the exchange, such as the Beacon, a decentralized application (dApp) connection standard, and wallet for Tezos and the Sapling protocol, which ensures the privacy of transactions conducted with fungible tokens.
Once the wallet is completed, it will simultaneously be launched on both Android and iOS devices and will also support the FA1.2 and FA2 token standards. The ultimate goal is for Phoenix to “evolve into a smart contract wallet based on a social fund recovery protocol.”
Correction on 14 April 2020: CamlCase is not a decentralized exchange but a company behind the Dexter exchange.