Singapore's Account Labs Secures $7.7M to Launch UniPass Wallet on Polygon

Singapore-based Web3 wallet solution provider, Account Labs, has announced a successful fundraising round of $7.7 million with lead investors including Amber Group, MixMarvel DAO Ventures, and Qiming Ventures. Alongside this announcement, the company has launched its first consumer-focused app, UniPass wallet, on the Polygon network, offering a seamless Web3 wallet experience.

The UniPass wallet app leverages account abstraction, allowing users to create and access a self-custody Web3 wallet using a Google account and fund it with Mastercard or Visa cards. The platform aims to drive mass crypto adoption through peer-to-peer (P2P) stablecoin transfers, starting with a focus on the Philippines and expanding to Southeast Asia.

Account Labs, formed in 2023 through the merger of Keystone and UniPass, is committed to enhancing financial access and inclusion with innovative technologies. UniPass wallet represents a significant step towards making Web3 wallets as user-friendly as email accounts, a game changer for Web3 adoption.

UniPass wallet will be available on Android at launch, with iOS support coming soon, and plans to expand to Apple ID and other social media logins. By utilizing account abstraction and stablecoins, Account Labs aims to unlock mass adoption of cryptocurrencies and provide a modern financial experience.