Aragon co-founder reveals self-custodial crypto wallet designed to keep things simple
Quick Take
- Jorge Izquierdo, who co-founded Aragon, reveals his latest project: a wallet focused on self-custody.
- Called Tuyo, the wallet lets users interact with decentralized exchanges on multiple blockchain networks.
Tuyo, a self-custodial crypto wallet designed to make interacting with crypto simple, has been released out of stealth today.
The wallet — which lets users buy, sell and hold crypto — has been in private beta since February and is now available through a public waitlist. It was built by Jorge Izquierdo, co-founder of Aragon, a project focused on DAOs and governance that saw an epic rise and fall over a number of years.
“The idea is to build a great 'walled garden' in which even if users are in custody of their crypto, they won't experience many of the complexities,” said Izquierdo in an interview with The Block.
The core goal of the wallet is to try to abstract away the more confusing elements of interacting with various blockchain networks. While the wallet operates on multiple blockchain networks — Ethereum, Optimism, Arbitrum and Base — it hides those details when not needed.
Making use of account abstraction
Izquierdo said there has been a series of tailwinds to make an app like this possible, including faster decentralized exchanges on Layer 2 networks and account abstraction, which enhances crypto wallets. For instance, with account abstraction, users won’t need to sign approvals for transactions before they go through — as it’s combined together into a single transaction.
“It's only now that all the pieces finally come together to be able to offer a great experience akin to a centralized exchange that can be used by hundreds of millions in which everything but the on/offramp can happen onchain,” said Izquierdo.
As a self-custodial app, users will remain in control of their crypto, even when interacting with the decentralized exchanges that the app provides access to. The wallet is planning to introduce DeFi applications in the near future, and access to such applications will remain self-custodial.
Tuyo’s other co-founder is Alejandro Perezpayá. He joined mutual funds distribution platform Allfunds in an acquihire in 2018 and went on to become head of digital product.
Going ahead, Tuyo will add more networks alongside support for DeFi. Izquierdo said that the goal is to get the wallet on app stores some time after Summer.
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