Linux Foundation launches digital wallet development support platform

The Linux Foundation has just announced plans to launch the OpenWallet Foundation, which aims to support the development of open source software for digital wallets.

Linux Foundation launches digital wallet development support platform

The Linux Foundation, a non-profit dedicated to promoting innovation through open source, has just announced its intention to launch the OpenWallet Foundation .

The main mission of the platform is to develop a secure open source toolkit for anyone – as long as they have the technical expertise – to build an interactive wallet. Even so, the platform will not develop wallets or create any new standards on its own.

Linux Foundation CEO Jim Zemlin said:

“We believe that digital wallets will play an important role for digital societies. Open software is the key to interoperability and security. We are delighted to be the creators of the OpenWallet Foundation and excited about its potential.”

Along with Accenture, other corporations and organizations such as Okta, Ping Identity, CVS Health and OpenID Foundation are also contributing to the development of the platform. 

Digital wallets are software services that provide customers with a medium through which they can conduct day-to-day transactions. Some popular wallets today can be mentioned as Apple Wallet, PayPal and Venmo. In the crypto industry, users are no stranger to MetaMask or Coinbase Wallet wallets, which allow access to decentralized financial applications, NFTs or token swaps with ease. .

The above news comes right after the recent growing investments in crypto wallets. Yesterday, the Sender wallet belonging to the Near ecosystem received an investment of $ 4.5 million from Pantera Capital. Last week, Omni Wallet also raised $11 million in a seed round, at a valuation of $50 million.

FoxCryptoNews summary

Sep 14, 2022

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