Account Labs has created a smart wallet that will enable users to use their Google accounts to set up a Web3 wallet, bypassing the need to remember a complex 12-word seed phrase.
The smart contract wallet, UniPass, will utilize account abstraction principles to enable users to create and access their on-chain wallet and top up crypto using Apple Pay or their Mastercard or Visa cards.
Account Labs came into existence following the merger of Keystone, a hardware wallet developer, and UniPass, a software wallet developer.
It recently secured $7.7 million in a funding round co-led by Amber Group, MixMarvel DAO Ventures, and Qiming Ventures.
In an interview with Blockworks, Account Labs CEO Lixin Liu said the basic problem the company was trying to solve was how to enable users to regain access to their smart contract wallet on a new device if they had lost their seed phrases.
“When a UniPass wallet is created initially, the smart contract will also place a person’s Google account into the code,” Liu said.