Crypto exchange Gemini has unveiled a self-custody smart wallet designed to onboard new users to Web3, marking a strategic expansion beyond its centralized services. The wallet replaces traditional recovery phrases with biometric passkeys stored on users' devices, enabling faster logins and eliminating password management. It integrates with the Gemini Onchain Dashboard for token swaps, yield strategies, and dApp discovery across networks like Ethereum, Arbitrum, Polygon, Optimism, and Base.
Key features include sponsored gas fees for early adopters, free Ethereum Name Service (ENS) subdomains (e.g., name.gemini.eth), and cross-chain swaps powered by Bungee. Security partnerships with Blockaid provide real-time protection against malicious contracts, while WalletConnect ensures compatibility across devices. Yield generation is facilitated through Morpho protocol vaults on Arbitrum, allowing immediate rewards without fund lockups.
This launch follows Gemini's confidential IPO filing in June 2025 and aims to lower entry barriers by simplifying DeFi access. The wallet functions in both embedded (for dApp integration) and portable modes, targeting broader adoption through enhanced usability and native hardware security.