Gemini Launches Passkey Wallet with Gas-Free L2 Access
Gemini Wallet has launched a passkey-based self-custody solution to streamline Web3 onboarding and on-chain interactions. The Gemini Wallet replaces complex seed phrases with device-native passkeys and offers seamless dApp access across desktop and mobile via its Onchain Dashboard. It reimburses gas fees on major Layer 2 networks including Arbitrum, Polygon, Optimism and Base, and issues a free ENS subdomain to each user.
Partnerships with Blockaid, WalletConnect and Bungee ensure robust security, wide dApp compatibility and cross-chain liquidity, while integrated Morpho vaults provide instant yield on deposits. Future integration with Gemini’s exchange will further streamline trading flows. By lowering entry barriers, the Gemini Wallet aims to drive adoption of non-custodial solutions and boost on-chain activity and trading volumes.
Bullish
The introduction of a passkey-based Gemini Wallet with gas reimbursements on leading Layer 2 networks is likely to boost on-chain activity on Arbitrum, Polygon and Optimism as traders take advantage of lower costs and simplified access. In the short term, increased transaction volumes on these networks may drive higher demand for their native tokens (ARB, MATIC, OP). Over the long term, improved user experience, instant yield via Morpho vaults and upcoming exchange integration could foster sustained growth and adoption of non-custodial wallets, reinforcing bullish sentiment across the DeFi and Layer 2 ecosystems.