Uniswap Labs, the decentralized finance (DeFi) protocol, has hit a roadblock in its bid to launch its mobile cryptocurrency wallet on Apple’s App Store. Despite Uniswap’s efforts to ensure maximum security by continuously testing for errors and encrypting the wallet’s root phrases and private keys using Apple’s Secure Enclaves, the wallet’s final version was rejected by Apple just a few days before its scheduled launch in December 2022.
Uniswap’s mobile wallet is designed to enable users to swap cryptocurrencies on Layer-1 or Layer-2 networks without the need to switch blockchains. The wallet offers a range of features, including live price chart monitoring and token searches on various networks, such as Ethereum, Polygon, Arbitrum, and Optimism.
In a statement, Uniswap Labs said, “We have faced many issues with Apple related to our mobile cryptocurrency wallet.” Uniswap claims that it has responded to Apple’s concerns and assured the tech giant that the protocol adheres to its principles.
However, despite these efforts, the mobile wallet remains in limbo, as Apple has not given it the green light to launch on the App Store. “Apple has not allowed our wallet on the App Store, and we do not know why. We are stuck in limbo,” Uniswap noted in its statement.
While waiting for Apple’s approval, Uniswap has allowed a few thousand users early access to its wallet on Testflight. Nonetheless, the delay in the mobile wallet’s release on the App Store is a significant setback for Uniswap, which is seeking to expand its user base and increase adoption of its DeFi protocol.
Apple’s stance on cryptocurrency apps has been a source of contention in the past. In 2019, the tech giant removed the Coinbase app from its App Store, citing concerns over compliance with its guidelines. Although Coinbase was eventually allowed back on the App Store, the incident highlights the challenges cryptocurrency companies face in navigating regulatory hurdles and gaining mainstream acceptance.
Overall, Uniswap’s experience with Apple underscores the need for DeFi protocols and cryptocurrency companies to find ways to work with regulators and tech giants to gain widespread acceptance and adoption.
Read more:
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- Uniswap Launches Simple And Safe Self-Custodial Mobile Wallet For DeFi Trading