KuCoin Wallet becomes Halo Wallet as the team goes independent

04/03/2023 14:05 • Crypto & Markets • 89 views

On April 3rd, it was announced that KuCoin Wallet was renamed Halo Wallet, and the team has officially separated from KuCoin Group and will operate independently. Halo Wallet has obtained the first round of financing from KuCoin Ventures, IDG, HashKey Capital, and others. KuCoin stated that brand reshaping means that Halo Wallet will expand from Web3 wallets to a broader SocialFi ecosystem.

KuCoin Wallet renamed as Halo Wallet and will operate independently

In recent developments in the blockchain industry, KuCoin Wallet has announced that it is being renamed as Halo Wallet. Along with the change in name, the team has also made the decision to separate from KuCoin Group, which will allow Halo Wallet to operate independently. The announcement was made on April 3rd, 2021.

What is Halo Wallet, and how did it come about?

KuCoin Group, founded in 2017, is one of the leading cryptocurrency exchanges in the world. Seeing the potential of blockchain technology, it also ventured into creating its own wallet system, KuCoin Wallet. KuCoin Wallet is known for its features like multi-crypto support, high-security features, and seamless user experience.
However, the team behind KuCoin Wallet felt that its potential was limited by being a web3 wallet. Looking to expand and create a broader ecosystem, they decided to rename and rebrand the wallet as Halo Wallet and go independent.
Halo Wallet has now joined the SocialFi space, which is a combination of DeFi (Decentralized Finance) and Social Media. According to KuCoin, the brand reshaping means that Halo Wallet is now more than just a wallet but an entire ecosystem that offers additional services and features like social media participation, social trading, and more.

The First Round of Financing

As part of its new avatar, Halo Wallet has gathered some significant financing for its next steps. It secured its first round of financing from well-known investment firms like KuCoin Ventures, IDG, HashKey Capital, and more.
The financing will be utilized to fuel Halo Wallet’s vision of becoming the go-to platform for users seeking social media involvement, trading and more in the blockchain space.

What will the rebranding of KuCoin Wallet signify for its users?

The Halo Wallet users need to back up their wallets and move their assets to Halo as soon as possible to benefit from advanced features. The rebranding will not impact the user base, and the users will continue to have access to all its services as usual. However, the users will now have more features and benefits through Halo’s expansion into the broader SocialFi ecosystem.

Conclusion

Halo Wallet is all set to revolutionize the web3 wallet industry with its new socialFi ecosystem. Its name change and separation from KuCoin Group are just the first steps towards the grand vision. The idea of combining blockchain technology with social media seems promising and has already garnered considerable attention from the investment community.

FAQs

Q. What Is Halo Wallet?
A. Halo Wallet is a web3 wallet that has been rebranded from KuCoin Wallet, aiming to provide a broader ecosystem and become a SocialFi platform.
Q. Do users need to shift from KuCoin Wallet to Halo Wallet?
A. Yes, users need to back up their wallets and move their assets to Halo Wallet to avail of the new functionalities.
Q. What is the socialFi ecosystem?
A. SocialFi ecosystem is a combination of DeFi and Social Media that Halo Wallet is looking to create, which will offer users more social media involvement, social trading, and other features.

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