Uniswap Labs Releases Self-Custody Crypto Wallet

DeFi giant Uniswap Labs has built a self-custody crypto wallet, another sign of its efforts to become a one-stop shop within the crypto ecosystem.

But the application is stuck in “limbo.” Built for iPhones, it must get approval from Apple before it can launch on the company’s App Store. A request for approval was submitted “months ago,” according to the company, and has been denied for “ever-changing reasons,” founder Hayden Adams tweeted.

Only 10,000 people will be able to download the wallet, which they can do via an Apple program that allows a limited number of users to test applications in their beta phase.

In recent months, Uniswap has spread beyond its original purpose as a decentralized cryptocurrency exchange.

Last year, it acquired Genie, an NFT marketplace aggregator. It closed the Genie deal in November and launched a similar, Uniswap-branded product, part of its goal to create a platform that would serve as “the marketplace for all digital assets.”

A month later, Uniswap announced it had partnered with MoonPay, allowing Uniswap users to purchase assets using debit cards, credit cards or bank transfers. Users have to submit to MoonPay’s know-your-customer and anti-money laundering checks to use the service, but Uniswap Labs said the deal would remove “a major barrier to DeFi adoption.”

Uniswap Allies With MoonPay to Bolster Debit Card Transfers

DeFi Exchange's Deal Also Supports Credit Cards and bank Transfers

The Defiant

Uniswap’s mobile wallet is open-source and non-custodial. Uniswap is also building its wallet “for other platforms,” though it did not specify which platforms.

Its launch was scheduled for December but has been put on hold due to Apple’s refusal to approve its listing in the App Store, Uniswap Labs said in a blog post.

“We like Apple products — that’s why we built our wallet for iOS,” the post reads. “But this experience has reminded us why we got into building open, accessible technology in the first place.”

Uniswap’s UNI token was unaffected by the news and is down 5% in the past 24 hours in line with broader markets.