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Worldcoin‘s Tools For Humanity has acquired Ottr Wallet, a Solana-based digital wallet launched 18 months ago.
Ottr Finance announced the acquisition on Thursday, with the startup’s CEO Aleksei Zakharov noting in a blog post that the acquisition marks a new chapter for Ottr Wallet.
“Joining Tools for Humanity marks a new chapter for us, combining our expertise with theirs to advance the world of digital identity and finance. I am immensely proud of our team and grateful to all who supported us from the beginning of this journey,” Zakharov said.
Today we're excited to announce that Ottr has been acquired by @tfh_technology, a contributor to @worldcoin. After 18 months building a next generation consumer crypto experience, we’re joining forces to take the World App to the next level! pic.twitter.com/eNBymyLnhw
— Ottr ☀️🦦 (@ottrfinance) February 29, 2024
Ottr to sunset wallet
Following this development, Ottr Finance is sunsetting its wallet as the team joins Tools for Humanity. According to the Ottr team, wallet users can start exporting their seed phrases and private keys to Solana-compatible wallets. These include Phantom and Solflare.
Ottr’s backend will continue to be operational until June 1, 2024 before the Ottr app is removed from App stores.
Meanwhile, the Ottr team will now focus on helping develop the World App – Worldcoin’s digital wallet. Data on the Worldcoin website shows there have been 3.86 million World ID sign ups since the Sam Altman co-created project launched in July 2023.
Users have claimed over 82.6 million WLD tokens since launch, while transactions on the World App have reached 31.1 million in 220 days.
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