EMURGO Fintech 2022 in Review + What to Expect in 2023

Yoroi: A gateway to the Cardano blockchain’s Web3 ecosystem

Developed by EMURGO, Yoroi Wallet is an open-source and the first crypto light wallet for Cardano ADA users. 

Launched in 2018, Yoroi now has approximately 1 million downloads across platforms and is designed to be the gateway to Cardano’s Web3 ecosystem of decentralized applications including Cardano DeFi, Cardano NFTs, and more.

As part of EMURGO’s new Fintech division, Yoroi’s development team works closely with Cardano ecosystem partners IOG and CF to ensure compatibility and alignment with Cardano’s overall development and features such as Project Catalyst.

In this yearly recap, we will go over Yoroi Wallet’s highlights in 2022 and what to expect for Yoroi Wallet in 2023.

Announcement of the first USD-backed stablecoin for Cardano

EMURGO Fintech Managing Director Vineeth Bhuvanagiri announced the first USD-backed stablecoin, $USDA, for the Cardano ecosystem at Cardano Summit 2022.

The first product from EMURGO Fintech’s Anzens platform, $USDA is scheduled to launch in Q1 2023.

As a 1:1 fiat-backed stablecoin, EMURGO has partnered with a regulated financial services company based in the US to custody cash deposits, assuring the stablecoin is fully compliant and adheres to regulatory guidelines.

Upon availability, $USDA can be used via Yoroi Wallet or any other non-custodial/self-custodial wallet that supports Cardano native assets to further the user experience with various dApps in Cardano’s ecosystem.

Interested users can go now to https://www.anzens.com and join the USDA stablecoin waitlist and be ready for its arrival in 2023.

Yoroi Wallet integrates CIP-30

A Cardano Improvement Proposal (CIP) is a proposed solution to drive the evolution of the Cardano ecosystem in a collaborative and transparent manner.

The CIP program was launched in 2019 by the Cardano Foundation to enable the Cardano community to give feedback, propose solutions, and take on an active role in improving Cardano’s development.

In May 2022, Yoroi Wallet successfully integrated CIP 30 – Cardano dApp-Wallet Web Bridge. CIP-30 proposes a webpage-based communication bridge allowing webpage dApps to interact with Cardano wallets.

CIP-30 promotes the development of Cardano Web3 dApps and more efficient onboarding of dApp users by bridging Cardano dApps with new and existing Cardano wallet users including Yoroi.

With its integration, Cardano dApps are able to interact with Cardano wallet types more easily, helping to promote the Cardano Web3 ecosystem, including Cardano-based NFT and DeFi dApps, by providing a smoother user experience. The CIP 30 specification and implementation with Yoroi Wallet are now listed in the Cardano Foundation GitHub repository found here.

Yoroi Wallet releases dApp Connector

The Cardano blockchain’s Alonzo upgrade brought smart contract functionality and support to Cardano.

This paved the way for developers to start building Cardano DeFi, NFT, and other Web3 decentralized applications (dApps) on the Cardano blockchain, bringing more liquidity and utility to Cardano ADA users.

With smart contracts integrated into Cardano, Yoroi Wallet unveiled the dApp Connector to help bridge the growing number of Cardano dApps with Yoroi Wallet’s Cardano ADA users earlier this year.

Cardano developers are able to use the Yoroi dApp Connector to connect their Cardano dApps with Yoroi’s large user base.

By using the dApp Connector, developers can also enable Yoroi users to participate in any activities that the dApp permits such as purchasing or selling Cardano-based tokens and NFTs, gaining access to resources, and using other features offered by their dApp.

In 2023, the Yoroi dApp Connector will continue to see increased adoption and integration with various Cardano ecosystem products and services.

EMURGO Fintech Community Lead appointed to engage with Cardano community

EMURGO named Tyler Wales as its new Fintech Community Lead for its Cardano Web3 products & services including Yoroi Wallet and $USDA in October 2022.

In his role, Tyler addresses community user concerns, provides general support to the Yoroi Wallet community, and enhances the visibility of development work being undertaken on EMURGO Fintech’s products and services.

These responsibilities are a main part of increasing EMURGO Fintech’s community engagement efforts. 

In 2023, EMURGO will host more user engagement activities with the Cardano community on our social media channels so please be sure to follow EMURGO on our social media channels listed below.

Those with questions, ideas, and other feedback about Yoroi can directly reach out to Tyler.

Meeting the Cardano community at global conferences and events

With travel restrictions gradually lifted, EMURGO and Yoroi Wallet teams were finally able to directly meet with Cardano ADA and Yoroi Wallet users firsthand at major blockchain conferences.

In 2022, EMURGO and Yoroi were able to have a presence and meet with community members at Consensus in the US, TOKEN2049 in Singapore, and at Cardano Summit in Switzerland, among other community-driven events.

In 2023, EMURGO and Yoroi will continue to meet the community at local events, big conferences, and online events to foster community engagement.

Yoroi Wallet in 2023

There are many new, exciting upgrades and developments planned for Yoroi Wallet in 2023 to enable an even better user experience.

Some of these include the previously mentioned arrival of $USDA, the first USD-backed stablecoin for the Cardano blockchain, dApp Connector integrations, enhanced community engagement, and more.

On the technical side, Yoroi and EMURGO have been able to reimagine and carefully re-engineer Yoroi’s product architecture, user experience, and development process with seasoned technical leadership and a developer team in place. Yoroi’s improvement approach is to use a Good-Better-Best (G-B-B) framework. 

Through this development framework, Yoroi Wallet users can expect continuous improvement and fast integration of the USDA stablecoin in 2023.

Join the waitlist for $USDA Cardano stablecoin now

USDA, Cardano’s first USD-backed stablecoin for the ecosystem, is scheduled to launch in Q1 2023 and bring value to Cardano’s Web3 ecosystem of decentralized applications. It will be the first product from the “Anzens” suite of fintech products from EMURGO.

Don’t miss out and join the waitlist now at https://www.anzens.com to be ready for $USDA.

About EMURGO

• Official Homepage: dev.emurgo.io
• Twitter (Global): @EMURGO_io
• YouTube: EMURGO channel
• Discord: EMURGO Community
• Facebook: @EMURGO.io
• Instagram: @EMURGO_io
• LinkedIn: @EMURGO_io

About Yoroi Wallet

• Yoroi Twitter: @YoroiWallet
• Official Website: yoroi-wallet.com

About USDA

• Official Homepage: anzens.com
• Twitter: @AnzensOfficial