MVL Launches 'Clutch', a Cryptocurrency Wallet Connected to Ride-Hailing Service

The mobility blockchain project MVL on March 31 unveiled its cryptocurrency wallet, Clutch. Through this, MVL plans to introduce millions of users from the Southeast Asian market into the blockchain ecosystem.

A cryptocurrency wallet is an account that can store cryptocurrency. Through an account and a key, it connects the transaction data of cryptocurrencies recorded in the blockchain rather than in a physical space. Users can prove ownership of cryptocurrencies and create transactions through the wallet.

Many cryptocurrency projects are currently operating with blockchain, but there are several hurdles, such as inconvenient access and private security key storage problems for general users to use.

MVL promoted user experience and accessibility improvements to enable better connection to blockchain services through its wallet. By adopting social login, users can quickly create and manage accounts to improve accessibility and provide simple and robust security with a biometric authentication-based system. In addition, Private Key management is distributed and managed in three shares using an open-source library, so it is possible to respond to situations such as the loss of private keys to a certain level.

Clutch supports the Ethereum mainnet and Binance Smart Chain Network (BNB Chain). Therefore, users can select the desired network when creating an account and store multiple tokens in their accounts, including Ethereum, BNB, and MVL. In addition, using the DApp browsing function enables various blockchain services, such as various Defi and NFT exchanges and the blockchain service provided by MVL.

To celebrate the launch of the Clutch, MVL will hold a 150 bMVL airdrop event for wallet users. The related details are provided on the website. Also, the various on-chain products will be released in the future, and various events for holders will be implemented through Clutch.

CEO of MVL, Kay Woo, said, “We plan to gradually introduce millions of drivers and passengers from TADA, a ride-hailing service operated by MVL, into the blockchain ecosystem. In addition, we plan to successfully expand our real business and blockchain services through various on-site promotions using cryptocurrency and wallet."

MVL plans to secure its competitiveness in the blockchain ecosystem and easily use various services such as games, NFTs, payment, and DeFi by influencing and managing new users who are not familiar with blockchain through wallets in the future. 

Related Articles