- Adding support for the two new blockchains was supposed to happen in Q1 of 2023.
- Users may now trade assets across decentralized applications (dApps) like Uniswap.
Phantom, a cryptocurrency wallet for Solana blockchain users, has announced that it will begin public support for the Ethereum and Polygon blockchains on May 1 at 9 a.m. EST across browsers, iOS, and Android.
Adding support for the two new blockchains was supposed to happen in Q1 of 2023, but that deadline has been pushed out. Brandon Millman, CEO and co-founder of Phantom, told that the company’s 3 million customers would have access to the multichain integration.
Moreover, after raising $109 million at a $1.2 billion valuation in January 2022, Phantom released these additional features more than a year later. Paradigm led the funding round, which also included Andreessen Horowitz, Jump Capital, Solana, and others.
Banking on Multichain Growth
With Phantom wallet’s Ethereum and Polygon support, users may trade assets across decentralized applications (dApps) like Uniswap and Aave and NFT markets like Blur and OpenSea. MetaMask, Solana, and Ethereum Virtual Machine (EVM) wallets are now supported for importing user assets.
Furthermore, wallet owners may now trade, keep, and engage across all three blockchains (instead of just one), making Phantom accessible to a wider pool of crypto users beyond the millions it now has from the Solana ecosystem.
It is vital that Phantom has decided to open up to other blockchains because of the growing possibility of a multichain future and the possibility that other big players (such as MetaMask) may follow suit.
Phantom’s new feature may also facilitate cross-chain communication between dApps and other projects and their users.
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