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Civic, BitGo to roll out a consumer mobile wallet

Wednesday 24 July 2019 00:42 CET | News

Civic Technologies, a decentralised identity startup, has teamed up with BitGo to build a crypto wallet that maintains anonymity while offering a back-up solution.

The consumer wallet, named Civic Wallet, was designed alongside Civic Identity, Identity.com, and Civic Pay to operate with BitGo’s multisig solution.

In the beginning, the retail level wallet will launch with a handful of currencies familiar to the digital community and will allow users to store, send and receive cryptocurrency. It also provides a number of features reminiscent of traditional bank accounts, like daily limits, privacy controls, and recoverability. Additionally, keys are stored on the mobile device, to simplify login.

Civic will store minimal user data, in the form of KYC information, for account recovery and compliance purposes only. When onboarding to the wallet, the company will authenticate clients’ identities through blockchain technology. The company will not share this information with BitGo, however relies on the cryptographic storage company to retain redundant client signatures.

Civic plans to release the wallet in the fourth quarter of 2019.


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Keywords: Civic Technologies, blockchain, cryptocurrency, cryptocurrency wallet, mobile wallet, partnership, BitGo
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Countries: World