Huobi Wallet transforms to iToken, adds decentralized investment services

A special campaign will be held for users to win a Tesla Model 3

LONDON, May 18, 2022 /PRNewswire/ -- Huobi Wallet, a secure and professional DeFi wallet, has enhanced its service offerings and will now be known as iToken. iToken, which received a US$200 million investment from Huobi Group, will become a decentralized investment platform, enabling users to conveniently access various DeFi services and dApps. Besides digital asset storage, iToken will also provide investment and financial management, market information, and roll out other new features to empower users with advanced digital asset management capabilities.

To celebrate this groundbreaking upgrade, all users who take part in a special launch campaign will stand chances to win a Tesla Model 3, Tesla's all-time best-selling electric car, after completing a series of activities.

The name iToken depicts users' ability to freely take charge of their own digital assets and represents iToken's vision for a decentralized future. The new name reflects the fact that although users may use multiple digital wallets, they only need one to store and manage their favorite digital assets, especially those that hold the highest long-term growth potential. iToken symbolizes a single place for the storage of all digital assets that can seamlessly connect across various public chains, all underpinned by the highest security standards.

As a professional one-stop decentralized investment portal platform with multiple measures for data security, such as security isolation and data encryption, iToken allows users to have full control over their digital assets since they manage their own private keys. Users can add and manage digital assets with a single click, and access a suite of useful DeFi tools, such as TVL rankings, instant cross-chain swaps and built-in security review report for dApps. NFT ranking has been integrated into iToken which enables users to review NFTs on various public chains, get cutting-edge information, and make the most suitable decisions on their trades. The inclusion of GameFi section provides users with access to popular blockchain games on major public chains. In addition, a new wealth management feature will soon be added to empower users to directly participate in digital asset investment events such as DeFi and staking, with returns credited directly into their wallets.

iToken will allocate half of the US$200 million investment from Huobi Group towards risk reserves for its newly launched wealth management functions, with the other half used for daily operations. Furthermore, iToken will work with industry partners to develop a cloud wallet product that will be embedded in the exchange, allowing users to view the state of their DeFi investments, NFTs, and manage on-chain assets anywhere so long as they have an Internet connection. iToken and its partners have pledged to further collaborate in other areas such as DeFi project recommendations, cloud wallet linkage and enhancing user education.

Current Huobi Wallet users need not take any action in order to enjoy the additional services offered by iToken. The wallet will continue to operate as usual and users will have access to iToken's new features when they are released. Business users will also enjoy a seamless transition to the new iToken for business when it is launched.

"Digital asset wallets are aplenty in the market, but iToken goes several steps beyond the mere storage of digital assets to include dApps and cross-chain swaps," said Liser Lee, Head of iToken. "By empowering users to wholly take charge of their investments we hope to pave the way toward true decentralized financial freedom.

A special lottery campaign will be held from 25^th May to 21^st June 2022 to thank all users for their support and commitment to iToken. Users who complete campaign tasks will stand chances to win a Tesla Model 3. For detailed information about the campaign, please visit https://www.huobiwallet.fi/en/.

About iToken

iToken is made up of a global, professional team on a mission to empower more people around the world with genuinely non-custodial, secure, and convenient financial services. iToken aims to become the world's most secure crypto wallet by leveraging deep-rooted experience and expertise in both technology and operations to significantly decrease risk while ensuring the optimal user experience. As a one-stop platform, iToken supports over 20 mainstream public chains and tens of thousands of tokens, and has integrated several functions to meet the diversified needs of users, such as DeFi TVL ranking, cross-chain swap, NFT ranking, GameFi section, dApp browser, etc.

SOURCE Huobi Wallet