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Exodus Wallet on Adding Cardano Native Tokens: “Never Say Never”


u.today 03 November 2022 19:01, UTC
Reading time: ~2 m

Exodus, a non-custodial private crypto wallet, hasn’t ruled out adding support for Cardano’s native tokens in a recent tweet.

“No plans for Cardano native tokens on the horizon just yet, but never say never,” the company said.

Its reply came after NMKR founder Patrick Tobler said that a popular cryptocurrency wallet was reluctant to enable support for Cardano-based tokens due to insufficient demand.

Exodus reported 800,000 monthly active users in the second quarter, which makes it one of the most widely used cryptocurrency wallets.

The wallet added support for Cardano (ADA), the native token of the popular proof-of-stake blockchain, back in January 2020.

The native token functionality was added to the Cardano blockchain during the rollout of the Mary hard fork back in March 2021. It makes it possible to launch user-defined native tokens in a seamless way. Cardano’s native tokens function similarly to Ethereum’s ERC-20 tokens.

As reported by U.Today, the number of native tokens issued on top of Cardano surpassed six million. Native tokens can represent utility tokens, stablecoins, and so on.

In late July, Ledger, the most popular hardware wallet provider, added support for 100 Cardano native tokens, including ADAX, DANA, and FIRE. The Paris-based company said that it was open to adding more native ADA tokens in the future.

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