Magic Square Inks Partnership With Exodus for Passkeys Integration

• Magic Square and Exodus have partnered to boost Web3 accessibility and security through Passkeys integration.
• Magic Square is boosting the adoption of crypto products through its pioneering Web3 App Store.

Binance Labs-backed Web3 App Store Magic Square has announced a partnership with Exodus Movement, a US-based firm for Passkeys wallet integration. Through this integration, Magic Square aims to enhance the user experience on its platform by delivering a simple-to-use interface and industry-leading security.

Details of the Partnership

According to the announcement, Magic Square will introduce Exodus’s Passkeys Wallet into the ‘Magic Store’ and ‘Magic Launchpad.’ This integration will allow users to create and fund an embedded crypto wallet directly within Magic Square with just a few taps. 

The Exodus Passkeys Wallet is also built using Multi-Party Computation (MPC) technology. This enhances user security by distributing private key control across multiple parties. MPC features like spending limits expand user safety while maintaining self-custody.

The integration will also allow the App Store to create new revenue streams by reducing drop-off rates and growing its user base. Moreover, the Exodus Passkeys Wallet uniquely supports diverse blockchain networks. The supported networks include Bitcoin, Polygon, Solana, Ethereum, Avalanche C-Chain, Base, BNB Chain, and Optimism. As a result, users can now enjoy a multi-chain experience and flexibility on Magic Square.

Secure login options like FaceID and TouchID are available in the Passkeys wallet, permitting users to create a wallet without installing a browser extension. After submitting a Know Your Customer (KYC) form, users can purchase crypto with a credit or debit card in the Magic Store.

The partnership highlights Magic Square and Exodus’ commitment to promoting innovation and enhancing the multi-chain experience for crypto users. Founded in 2015, Exodus is one of the most popular self-custody crypto wallets with a mission to make digital assets easy for everyone. The multichain wallet is available for desktop, browser, and mobile and supports over 20,000 pairs of digital swaps.

Michael Landsberger, Magic Square’s COO, expressed excitement for the partnership, stating, “This integration represents a significant step forward in simplifying the crypto experience, enabling our users to manage their assets securely and conveniently within a familiar interface.”

Recent Developments on Magic Square

Meanwhile, Magic Square is the first Web3 App Store backed by Binance Labs. It is designed to enhance user engagement and address asset acquisition challenges. The platform consistently strives to improve users’ experience with its community-driven approach and collaborations with leading industry players.

As noted in our earlier post, Magic Square announced an integration with 1inch Swap API to make users’ DeFi journey smoother and more efficient. At the same time, It opened a $SQR Swap Competition worth $25,000 to incentivize users for their active participation and engagement. Every swap transaction earned users Karma points, further incentivizing active participation within the ecosystem.

Before this, Magic Square launched a staking program for $SQR token holders, rewarding users for their support. Through the program, token holders earned an Annual Percentage Rate (APR) of 20% by staking their $SQR tokens in multiple pools, with reward rates varied by the pool.