Digital Banking Platform Cogni Launches Multi-Chain Web3 Wallet with NFT Storage

by James · December 21, 2022

Quick take:

The wallet supports blockchains including Binance, Bitcoin, Ethereum, Litecoin, Solana and others.
Users will be able to hold their NFTs across multiple blockchains in the Cogni wallet.
Users will also be able to send, receive and store cryptocurrencies and NFTs to wallet addresses using Unstoppable Domains integration.

Digital banking platform Cogni has launched its new multi-chain wallet to integrate Web3 services into a traditional Web2 banking platform.

Headquartered in New York City, Cogni’s investors include Hanwha Asset Management, CXO Fund, Solana Capital, ROK Capital, 35 Ventures, Bluewatch Ventures, World Quant, Hard Yakka and other angel investors and venture capital firms.

The recently launched wallet expands Cogni’s offering from Web2 to Web3. It supports blockchains including Binance, Bitcoin, Ethereum, Litecoin, Solana and others.

Users will be able to hold their NFTs across multiple blockchains in the Cogni wallet and will also be able to send, receive and store cryptocurrencies and NFTs to wallet addresses using Unstoppable Domains integration.

The wallet’s multi-party technology enables recovery options and ensures users have the safety, security and compliance of traditional banking integrated into the Web3 ecosystem. Cogni’s users maintain sole ownership of the private keys that control their digital assets.

“The average consumer struggles to adopt Web3 services due to poor integration into existing platforms and overly complex user experiences,” said Archie Ravishankar, founder and CEO of Cogni. “This multi-chain wallet is proof that Web3 services can revitalize traditional banking products and give the consumer more financial control than ever before.”

Despite the crypto winter, Cogni is making a push into Web3 as it expands its lifestyle-focused services beyond the boundaries of traditional Web2 digital banking. With the wallet, the company aims to be a frontrunner when it comes to compliance with regulations.

This news comes after Cogni hired experienced crypto executive Simon Grunfeld as VP of Web3 in August. Grunfeld will spearhead Cogni’s Web3 expansion and regulatory compliance as new regulations come out this year or next

“We are proud to launch this new wallet as a channel for traditional banking and Web3 experiences to coexist seamlessly and securely,” said Grunfeld, Head of Web3 at Cogni. “Cogni welcomes increases in regulatory oversight to ensure that all users have absolute confidence in their platforms.”

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