KuCoin Wallet makes a pivot to SocialFi as it announces ‘Halo Wallet’

Getting your Trinity Audio player ready...

KuCoin Wallet rebrands itself as Halo Wallet as it seeks to drift away from offering traditional Web3 wallet service into the broader SocialFi ecosystem.

The official rebranding sees KuCoin’s Wallet team sever ties with the KuCoin Group and will steer the affairs of the new Halo Wallet independently. According to an official announcement, the rebranding sees Halo Wallet launch a new logo, user interface, and roadmap.

A core offering of the rebranded Halo Wallet is the integration of social media protocols like Twitter into its original wallet offering, allowing users to engage with industry thought leaders and influencers. By leveraging insights from professional investors in the ecosystem, Halo Wallet aims to provide users with information on the latest market trends and vital trading strategies.

1/ We’re thrilled to announce that #KuCoinWallet has officially rebranded to Halo Wallet!🎉

With a brand new name, new logo, new UI, new roadmap,  #HaloWallet is ready to innovate the next stage of #Web3 social #crypto wallet!

Learn more⬇️https://t.co/GoYVvKdYoi

— Halo | halo.social 😇 (@HaloDotSocial) April 3, 2023

“Halo Wallet helps filter valuable and consensus investment information from massive amounts of on-chain data. Based on your risk preference, we will recommend investment portfolios to help you increase returns and hedge risks,” the announcement read.

The project disclosed that decentralized wallets play an integral role in onboarding new Web3 users and adding social functions to Halo Wallet may open up a range of benefits for users. Additionally, a decentralized autonomous organization (DAO) governance model will be deployed to make Halo Wallet “the most active SocialFi ecosystem in the world.”

Halo Wallet has received funding from leading Web3 investors, including IDG, HashKey Capital, and KuCoin Ventures. The project disclosed that it would be focused on recruiting top talents in the Web3 space to help it attain its lofty goals.

“Halo Wallet is committed to giving ordinary users the opportunity to break through the media noise and identify high-quality investment targets,” the team said.

KuCoin launched its decentralized wallet in June 2022, and less than 12 months later, the project has over 1 million users while launching staking and cross-chain swaps functionalities.

The great rebranding

Digital currency firms are undergoing a massive rebranding away from the buzzwords of “blockchain” and non-fungible tokens (NFTs). NFT firms are pivoting to using the term “digital collectibles” to describe tokens, while the metaverse is quickly losing its sheen as the go-to word for firms building in the industry.

In February, Gameconomy announced a rebrand to Hashcode Studio as part of plans to solidify its Web3 status, while industry firm Project Galaxy changed its name to Galxe to inject new life into its digital currency ambitions. Global digital currency exchange Huobi was not left out in the wave of rebrandings as the company revealed a strategic rebrand design to assist in its incursions into Southeast Asia.

Watch: Small Payments, Big Fun Micropayments for Casual Games