Former VP of Growth at Revolut, Hannes Graah, embarked on the creation of Zeal in 2022. The new wallet, backed by Galaxy, aims to address security concerns in the digital wallet space.
Graah, expressing dissatisfaction with existing wallets, states, "Clunky wallets built for technocrats or the casino are hard to use and easy to lose money with." He emphasizes the need for a safer, user-friendly wallet seamlessly integrating with blockchain networks and the real world.
Currently invite-only, Zeal is set to launch officially in the first quarter of the upcoming year. However, it faces stiff competition as companies strive to become the preferred digital wallet for crypto enthusiasts and newcomers alike.
Zeal seeks to combat scams and hacks with advanced security checks and web3 transaction previews, aiming to keep users safe. Notably, the wallet allows free USDC stablecoin transfers to bank accounts, addressing a practical concern for users.
Investors, including Galaxy, Framework, Variant Fund, and Northzone, express confidence in Zeal's security measures and design. Will Nuelle of Galaxy notes Zeal's "knack for blending user-friendly design, robust security measures, and comprehensive on-chain asset visibility."
Zeal's team comprises not only former Revolut executives but also individuals with experience from Coinbase and Spotify. The mix of expertise positions Zeal as a noteworthy player in the evolving digital wallet market.
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