Code Inc., the team behind the Kik messaging app, is introducing its Solana-based Code crypto wallet app today. The minimalist payment app is built around the cryptocurrency KIN, which was initially launched on the Ethereum blockchain but is now on Solana. Code’s CEO, Ted Livingston, the former CEO of Kik, spun KIN’s regulatory baggage as a positive: KIN is the only token that’s on Solana that has no inflation that’s been through the SEC gauntlet. The app is designed to be an iPhone moment for crypto, allowing users to instantly send crypto from one wallet to another by scanning another user’s QR code. Code’s team claims its QR feature works more quickly than similar functionality on Venmo or more traditional crypto wallets – many of which charge fees for transfers, unlike Code. To ensure transactions continue to work even when the blockchain goes down, Code has built a layer 2 on top of Solana that will continue to process transactions even when the chain is offline. Code’s success may ultimately rest on people’s willingness to adopt KIN as a payment method, as the coin is extremely volatile. Livingston didn’t count out the idea of eventually incorporating other assets, like stablecoins, into Code. The Code wallet will launch this week on iOS, and an Android version is in the works.
Code Inc. Launches Solana-Based Crypto Wallet App
