Apple bans cryptocurrency exchange from issuing crypto wallet

Uniswap Labs has announced the launch of a new crypto wallet that allows users to exchange assets on first- or second-tier networks without having to switch blockchains.

According to the company, the wallet will allow users to check price charts and search for any token on various networks, including Ethereum, Polygon, Arbitrum, and Optimism. In addition, seed phrases and private keys of crypto wallets will be encrypted and stored on devices using Apple Secure Enclave. Uniswap also said that users will be able to encrypt their seed phrases and store them in iCloud.

1/ Introducing the Uniswap mobile wallet?

A completely self-custodial, open-sourced mobile app from the most trusted name in DeFi.

Now available as a limited early release — via Apple TestFlight. pic.twitter.com/NmO8c0bXMs

— Uniswap Labs (@Uniswap) March 3, 2023

Despite the fact that the first build of the crypto wallet was approved last year in October, Uniswap Labs faced problems from Apple. The final version of the Uniswap mobile wallet was rejected by the company just a few days before its launch in the App Store, scheduled for December 2022.

Uniswap Labs reported that it had responded to all the comments from Apple and confirmed that it was following the tech giant’s recommendations. However, Apple has not yet authorized the launch of the crypto wallet.

«Apple is not giving the green light to our launch, and we don’t know why. We are stuck in limbo,» Uniswap said in its announcement.

It should be added that Uniswap has previously faced failures in the crypto exchange system, and 97% of UNI tokens were recognized as potentially dangerous. Last fall, Zero-dimensional scam detection researchers concluded that tokens on Uniswap contained malicious code or gaps in smart contracts. At the same time, any developers can add tokens to the platform, and the exchange itself does not conduct internal security checks before listing.