Account Labs Unleashes UniPass

Account Labs has developed a smart wallet that allows users to set up a Web3 wallet using their Google accounts, eliminating the need to recall a complex 12-word seed phrase.

The UniPass smart contract wallet will utilize account abstraction principles to enable users to construct and access their on-chain wallet using Apple Pay or their Mastercard or Visa cards, as well as to top up their crypto holdings.

Account Labs was formed following the merger of hardware wallet developer Keystone and software wallet developer UniPass.

A recent funding round co-led by Amber Group, MixMarvel, DAO Ventures, and Qiming Ventures raised $7.7 million.

Lixin Liu, CEO of Account Labs, stated in an interview with Blockworks that the company’s primary objective was to enable users to regain access to their smart contract wallet on a new device if they had forgotten their seed phrases.

“When an initial UniPass wallet is established, the smart contract will also insert the user’s Google account into the code,” Liu explained.

This implies that smart contracts can validate an email address without requiring end users to recall their seed phrases.

In the smart contract, your email is also protected with ZK [zero knowledge] protection. Otherwise, people can see the amount of money affiliated with each Gmail account, which is extremely dangerous.

To prevent Gmail accounts from constituting a single point of failure, the team is also introducing the Guardians concept.

Guardians are designed to assist users whose Google accounts have been compromised or who have lost access to their emails, and a backup account established by the user can regain access to a lost wallet.

As no KYC is required, anyone can download the UniPass app; however, the Account Labs team has stated that, following the initial launch of UniPass, it will focus on the Philippine market, with plans to promote adoption in the rest of Southeast Asia shortly.