Acquisition of Solana-based Ottr Wallet by Tools for Humanity

Tools for Humanity, a project under Worldcoin, has recently acquired Ottr Wallet, a digital wallet built on the Solana blockchain 18 months ago. The announcement of the acquisition was made by Ottr Finance, with CEO Aleksei Zakharov expressing excitement for this new chapter in a blog post.

Zakharov stated, “Joining Tools for Humanity marks a new chapter for us, combining our expertise with theirs to advance the world of digital identity and finance. I am immensely proud of our team and grateful to all who supported us from the beginning of this journey.”

As a result of the acquisition, Ottr Finance will be discontinuing its wallet as the team transitions to Tools for Humanity. Current wallet users are advised to export their seed phrases and private keys to Solana-compatible wallets such as Phantom and Solflare. The Ottr app will be removed from app stores by June 1, 2024.

Moving forward, the Ottr team will shift its focus to enhancing the World App, Worldcoin’s digital wallet. Since its launch in July 2023, the World App has seen 3.86 million World ID sign-ups, with over 82.6 million WLD tokens claimed by users. Additionally, there have been 31.1 million transactions on the World App in just 220 days.

The acquisition of Ottr Wallet by Tools for Humanity signifies a strategic move in the digital finance and identity space, with a clear commitment to enhancing the user experience and expanding the reach of Worldcoin’s innovative solutions.