On October 20, Fintech giant Plaid released its first crypto-native product called “Wallet Onboard” to enable Web3 builders to easily access over 300 wallets. 

Plaid, famous for bridging consumers’ bank accounts with online payments platforms, said its new crypto wallet interface tool will make it easy for crypto developers to plug into over 300 different Ethereum wallets, including MetaMask, Ledger, Coinbase Wallet, and Trust Wallet – and for their customers, too. 

Users will see a drop-down screen from Plaid showing often-used wallets and offering to link with their wallet of choice, when they will “connect wallet” to any blockchain-based application, like an exchange, lender, NFT marketplace, or game. 

Plaid says this makes the jobs of the developers simpler since they as of now need to construct custom wallet associations with their own applications, expanding their development financial plan and possibly opening ways to security risks, similar bugs, or exploits.  

Wallet Onboard can likewise host various types of wallets, such as hardware wallets, browser plugins, and applications. To shield security, Wallet Onboard doesn't store wallet addresses.  

Wallet Onboard available at present works with Ethereum and EVM-compatible chains, yet Plaid might branch out and connect with Solana and other blockchains.  

Additionally, head of the Plaid’s identity division Alain Meier states that it’s the launchpad for a variety of Web3-focused products that Plaid is planning. “What our teams are working on is bringing these identity credentials to the web3 experience,” Meier said.