Uniswap Introduces Mobile Wallet For Digital Asset Trading In DeFi

Decentralized crypto exchange Uniswap launched a new feature. (Photo; Doc. CoinChapter)

JAKARTA - Uniswap, an Ethereum-based decentralized exchange (DEX), recently launched a mobile wallet application in an effort to encourage wider DeFi adoption and facilitate mobile trading of digital assets on their platform.

This announcement was made on April 13, where the Uniswap mobile wallet application is now available for iOS devices in selected countries through the Apple App Store, after previously facing problems with Apple. Uniswap also mentions that their mobile wallet application is now "out of Apple's jail and is accessible in most countries".

One of the main features of the Uniswap mobile wallet is its ability to allow users to exchange tokens on various blockchain networks, including Ethereum, Polygon, Arbitrum, and Optimism. Additionally, the Uniswap mobile wallet can also connect with other Ethereum applications via WalletConnect, enabling easier access to the DeFi ecosystem.

Security features are also considered in the Uniswap mobile wallet application. Users can back up their account by writing a seed phrase or encrypt their key vault with a password and storing it in iCloud. Apart from that, Uniswap also allows users to share detailed information about non-fungible tokens (NFT) held in their wallets, including base and collectible prices.

The Uniswap mobile wallet also offers additional features, such as token price information and NFT data which can be used to track user-relevant trading activity. As such, Uniswap hopes that these features will encourage users to store their digital assets with their own DeFi wallet, although DeFi wallets typically have higher entry limits compared to centralized modes of buying and storing digital assets.

Interestingly, Uniswap is not the only project to launch a mobile wallet with DeFi features. Several other popular DeFi projects, such as MakerDAO and 1inch, have also launched their own mobile wallets in an effort to ease Web3 usage and provide users with an easier and more secure trading experience.

In terms of approval from Apple, Uniswap announced that currently their mobile wallet application has been approved in seven countries, and will continue to expand to other countries. This step is expected to further expand DeFi access and adoption for users in various parts of the world.