In an attempt to bring crypto closer to a mainstream audience, Wuabit is developing a digital asset wallet for using cryptocurrencies within WhatsApp.
The solution of the England-based firm will allow WhatsApp users to receive, send, trade, and also perform other digital asset related functions within the chat interface.
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According to a report by the UK daily The Express, the first stage of development, which includes Bitcoin support for WhatsApp, is almost complete.
“We are near completing the wallet core service starting with BTC,” a spokesperson of the company told the daily.
The report also revealed that Wuabit is planning to release the public beta of the application next month.
Tapping the Lucrative User Base of Messaging Platforms
WhatsApp is the most popular chat app in most developing countries, whereas in developed countries it is the second in line behind its sister platform Messenger. If implemented properly, Wuabit can gain a massive user base in a short period, leveraging the platform’s existing users.
“Crypto payments via WhatsApp can introduce greater numbers of new users who only know how to chat to this complicated space,” the spokesperson added. “Usability is key in user adoption and a great enabler.”
The blockchain-based company also has plans to introduce its service across other messaging platforms including Messenger, Telegram and Viber.
The integration will follow at good pace, first Telegram & SMS then FBM etc..
— Wuabit (@Wuabit) March 26, 2019
Along with cross-platform support, Wuabit is also planning to integrate support for other major digital currencies like Litecoin, Bitcoin Cash, and Ether.
Big Techs Adopting Crypto
Facebook is also working on the development of its native digital coin which can be used across all platforms owned by the social media giant – Messenger, WhatsApp, and Instagram – Finance Magnates reported earlier. Other popular messaging services including Telegram and KakaoTalk also jumped on the crypto bandwagon to introduce blockchain-based currencies on their platform.