CompoSecure announced the expansion of its Arculus Wallet product capabilities, including NFT support, WalletConnect integration and support of 16 new cryptocurrencies.
This significant boost in capabilities enables users to view, send and receive NFTs and connect to the growing DeFi (decentralized finance) market through the WalletConnect integration.
“We consistently monitor user feedback in an effort to ensure we deliver the strongest product offering for our customers. We have added a tremendous amount of new functionality into the Arculus Wallet, enabling it to be a secure gateway to easily and conveniently access the decentralized Web3 world,” said Jon Wilk, CEO of CompoSecure. “With the simple touch of an Arculus Key Card, users can unlock access to their DeFi and NFT worlds in addition to managing their cryptocurrency assets. We continuously strive to meet the needs of the market through well-designed, secure and elegant solutions that deliver peace of mind.”
User feedback plays a key role in product roadmap decisions for Arculus. The new Arculus Wallet features significantly expanded through this software release include:
- NFT support: The Arculus Wallet App now supports Ethereum-based NFTs in a special “galleries” section of the app for intuitive navigation. Users can now securely view, send and receive NFTs, enabling self-custody. The NFT market is expected to accelerate at a CAGR of 35.27% over the next several years and that will also increase NFT hacks, which reached $52 million in the first four months of 2022, as opposed to only $7 million in 2021.
- WalletConnect integration: Users can leverage WalletConnect to easily and seamlessly connect to any DeFi exchange or platform to access DApps (decentralized applications) exchanges for functions such as crypto-to-crypto transfers, lending and borrowing, as well as NFT marketplaces to quickly and securely purchase, send, receive or store any amount of NFTs through the multifactor authentication of the Arculus Wallet App.
- More tokens/currencies: Arculus also recently added support for 16 more cryptocurrencies, which are all ERC20s on the Ethereum blockchain: Amp (AMP), Cronos (CRO), ApeCoin (APE), Curve DAO Token (CRV), dYdX (DYDX), Earn Finance (YFI), Fantom (FTM), Gala (GALA), Golem (GLM), HEX (HEX), Loopring (LRC), Nexo (NEXO), OKB (OKB), Quant (QNT), Ren (REN) and Wax (WAXE). In addition, the Company anticipates it will introduce support for Bitcoin Latinum (LTNM) by the end of June. Based on the Bitcoin blockchain, LTNM uses the energy efficient proof-of-stake consensus mechanism.
CompoSecure expects to introduce other enhancements to Arculus in the coming months as part of its continuous product roadmap.
Launched in 2021, the Arculus Key Card and Arculus Wallet App work together with a 3-factor authentication security solution (biometric, private 6-digit PIN and the Arculus Key Card), making it simple, safe and secure to store, buy, swap, send and receive cryptocurrency and other digital assets, such as NFTs. This solution provides intuitive controls and a familiar “tap to transact” metal payment card form factor to manage multiple digital assets in one easy-to-use solution.