At the recent Plan B Forum in Lugano, Switzerland, Bitcoin-only startup Synonym launched the beta version of a highly impressive non-custodial Bitcoin wallet called Bitkit.
Synonym, which is owned by Tether Holdings, says on the landing page of its website, that it is “cultivating a Bitcoin future by designing, developing, and bootstrapping an ecosystem of software and services that enable a new peer-to-peer economy and society.”
As Bitcoin Magazine reported, Synonym Software was launched on 16 November 2021.
Carvalho said in a statement sent to Bitcoin Magazine back then:
“Hyperbitcoinization won’t magically happen on its own… In order to live in a world without big banks, oppressive regulation, or Big Tech presiding over our lives, we need a strategy and ecosystem to replace the legacy economy. That is where Synonym comes in…
By combining the Lightning Network’s speed and efficiency with an architected ecosystem of open P2P platforms and applications, Synonym hopes to accelerate Bitcoin’s ability to act as an independent, self-regulated economy.“
He also told Bitcoin Magazine:
“As part of the family of companies that make up Tether and Bitfinex, Synonym is positioned to integrate all of these companies products in a strategic way for Bitcoin, and we can reroute these resources back into Bitcoin development.“
Synonym offers three products: Bitkit; Slashtags; and Blocktank.
These are the four main areas of focus for Bitkit:
And Its main features are as follows:
According to a report by Bitcoin Magazine, Synonym CSO Paul Ardoino (who is also the CTO for both Tether and Bitfinex), had this to say about the Bitkit wallet:
“Bitkit isn’t a typical Bitcoin app. The Synonym team have managed to take wallets to the next level with a beautiful design and innovative useful new features that will help ensure hyperbitcoinizaion.”