The decentralized wallet previously known as KuCoin Wallet has rebranded as Halo Wallet and launched a new SocialFi ecosystem. Halo Wallet received financing from various investors, including KuCoin Ventures, IDG, HashKey Capital, and Web3 strategic partners, which helped facilitate the branding change.
1/ We’re thrilled to announce that #KuCoinWallet has officially rebranded to Halo Wallet!
With a brand new name, new logo, new UI, new roadmap, #HaloWallet is ready to innovate the next stage of #Web3 social #crypto wallet!
— Halo Wallet (@HaloDotSocial) April 3, 2023
The rebranding exercise intends to expand Halo Wallet’s focus by supporting a wider range of SocialFi ecosystem, including on-chain and off-chain social media protocols, such as Lens and Twitter. The wallet will integrate these features to establish a Web3 decentralized identifier (DID) system and engage with popular influencers.
Over time, Halo Wallet plans to move the governance rights of its SocialFi ecosystem to the community through a decentralized autonomous organization or DAO. This aims to motivate more innovators and users to discover new financial models and trading opportunities, creating an active SocialFi ecosystem.
The head of Halo Wallet, Jeff Haul, said decentralized wallets are the primary way users enter the Web3 world. The upgraded Halo Wallet offers enhanced social features, allowing users to create a well-rounded social identity and find quality information and opportunities on social networks.
Related: KuCoin leads $10M funding for Chinese yuan stablecoin issuer
KuCoin Wallet has made significant strides in the decentralized wallet space since its launch in June. It provides comprehensive mobile and PC coverage, supports tens of thousands of tokens and nonfungible token assets, native cross-chain swaps and staking, and has a user base of more than 1 million people.
In August, KuCoin Wallet integrated the automated market maker functionality of 1inch Network to improve token swaps. The partnership also granted access to 1inch’s Limit Order Protocol functionality, allowing orders to be filled at a predetermined price, including gasless limit orders for Ether (ETH).