Argent Wallet Leverages Smart Contracts To Provide Clients With ‘Decentralized Bank Accounts’

  • Ethereum wallet solution — Argent — now comes with a MakerDAO integration module that allows users to gain access to credit directly from the firm’s native app offering.
  • Experts believe that Argent’s core framework (which makes use of smart contracts) can help the firm capture the Decentralized Finance (DeFi) market in a big way.

The team behind one of the world’s most popular Ethereum wallet solutions — Argent — recently released a statement online announcing the launch of its latest MakerDAO integration module.

As a result of this latest development, users will now be able to gain “direct access to financial credit” — thereby allowing Argent to become a major access route for customers looking to make use of different decentralized finance (DeFi) offerings.

At this point in the article, it bears mentioning that Argent’s approach to wallet design allows the crypto storage solution to be compatible with a wide array of DeFi services. On the subject, company CEO —  Itamar Lesuisse — was quoted as saying:

“We are more like a decentralized bank account and that was really the starting point,”

Each account registered with Argent serves as a multi-signature wallet that provides users with unique features such as:

  • Hassle free account recovery options
  • Whitelisting
  • Transfer limits
  • Retention of non-custodial properties
  • Subsidized gas fees using meta-transactions

It should also be pointed out that due to Argent’s non-custodial nature, the firm’s native tech offering has been able to avoid a whole host of regulatory difficulties. For example, the recently introduced ‘General Data Protection Regulation’ law has had a very minimal effect on the firm’s digital storage option.

As things stand, Argent has a waitlist of more than 10k users who are all looking to gain early access to the platform. Via a seed funding round that took place in 2018, the team behind Argent was able to raise a total of $4 million (so as to fulfil its eventual vision.)

According to Lesuisse, his company’s next plan of action is to help bring a total of 1 billion users into the crypto/blockchain domain.

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