Is Apple Blocking Crypto Apps? Uniswap Answers Challenging Mobile Wallet Launch at ETHDenver 2023

Start of day 2 of ETHDenver, Uniswap (CRYPTO: UNI) Design Manager Callil Capuozzo announced the latest product of the leading decentralized exchange: the Uniswap Wallet.

QR codes were circulated around the venue to get early access to Uniswap Labs’ latest product, but no one was sent to download the app from the app store. Instead, users had to download TestFlight and then Uniswap Wallet from the little-known platform.

Uniswap addressed its issues with Apple on Twitter: “So why a limited early release from a team committed to making it accessible to anyone? Simply put, Apple Inc (NASDAQ:AAPL) isn’t showing our launch green and we don’t know why. We submitted our mobile app months ago – and while we’re 100% compliant with their specifications, we’re still in limbo.”

Uniswap Wallet is Uniswap Labs’ foray into the mobile wallet sector, a competitive industry where Coinbase, Robinhood, and Crypto.com have similarly branched out over the past few years.

However, Uniswap Labs’ unique position as a trusted DeFi brand, coupled with its knowledge of on-chain activities, could give it a unique advantage over these incumbents. Capuozzo acknowledged Uniswap’s advantage when asked why the team decided to launch a wallet.

“We’ve been trying to make a wallet for years. Hayden, the founder of Uniswap, and I have been talking about it since the beginning. We’ve always known people struggle with the experience of swapping,” he said. “The moment has come for our organization to gain even more knowledge. We are experts in exchange and we are so good at making it the best user experience. Now we want to do the same with wallets.”

He continued, “I think the whole thing that Uniswap Labs is doing today is using our expertise and knowledge to build the next round around these core experiences. We believe we are well positioned to do so; we have a great brand that people know and trust.”

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The circle is related to this USD coin (CRYPTO: USDC), similar to how Uniswap Labs connects to Uniswap DEX, while also creating products in the NFT and wallet space. With multiple product offerings, both companies can provide a simpler user experience in an industry where exceptional user experience is still rare.

Benzinga then asked about the governance of Uniswap. Uniswap’s UNI Token is Uniswap’s governance token, allowing holders to vote on proposals that will shape the future of Uniswap. Cappouzzo distinguishes that UNI’s control is over the Uniswap Protocol, which does not extend to other Uniswap Labs products such as the Uniswap Wallet.

“Governance is about protocol. The protocol is successful and independent; it runs on a chain and is controlled by UNI token holders. Everything related to the protocol is controlled by Uniswap. Uniswap Labs, the company that builds things on top of the protocol Ethereum (CRYPTO: ETH). Things like experiences, interfaces, and moving things forward.”

Benzinga asked Capuozzo what industry trends will continue to spread in 2023. He pointed to the recently released Ethereum Improvement Proposal (EIP-4337), Account Abstraction. He also mentioned that account abstraction will become even more important in light of Base, Optimism, and other Layer 2 chains, as these networks provide better reach to retail users.

“Account abstraction is a huge thing. I think it will transform, but it may take a few years to get to where I expect it to be. I believe the evolution of L2s, especially on EVM networks like OP and Base, will go hand in hand with account abstraction to enable a gas-free experience. Users don’t even need to know which chain they’re in.” Capuozzo said.

Finally, he told Benzinga about the collaboration with Moonpay, which the team had not announced until now. Strategically, the Uniswap wallet was able to strike a deal with Moonpay to offer the cheapest fiat-to-DeFi currently available on the ramp.

“We have partnered with Moonpay and discussed the cheapest way to crypto fiat from any DeFi protocol. It used to take hours to get on-chain, but today you can be on Moonpay and ready to use Uniswap and Ethereum in minutes,” noted Capuozzo.

Certainly, Apple can hinder blockchain adoption given its 1.5 billion user base. While this may be in the tech behemoth’s best interest, blocking users from accessing DeFi puts users’ finances at risk around the world. At a time when fiat currencies have suffered the highest inflation in decades, it is vital that the crypto-economy is accessible to all.

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