According to Odaily, Solana's on-chain wallet, Phantom, has announced the acquisition of Bitski, a wallet-as-a-service platform supported by a16z. As part of the transaction, Phantom will introduce an 'embedded wallet' feature to Solana. This marks Phantom's first acquisition, although the specific amount involved in the deal has not been disclosed.
The acquisition of Bitski is expected to enhance the functionality of Solana's blockchain by integrating the 'embedded wallet' feature. This feature will provide users with a seamless and integrated experience, further strengthening Solana's position in the blockchain industry.
However, the financial details of the acquisition remain undisclosed. It is yet to be seen how this strategic move will impact the overall value of Solana's blockchain and Phantom's position in the market. The acquisition signifies Phantom's growth strategy and its commitment to enhancing its services and offerings in the blockchain space.
