Towards a digital asset ecosystem

Today, we’re happy to reveal our biggest update yet: myPaymail wallet, our new multi-asset wallet! We’re targeting the end of June for the official release date, but we wanted to take some time to explain what to expect from it now.

The background

Currently, we only offer paymails that forward BSV to other wallets. This has been possible because most wallets support roughly the same Paymail features.

Last year, we saw how BitCoin rapidly increased its uses beyond being a means of payment. We have entered the era of digital assets and tokens, supported by multiple protocols operating on top of BitCoin. As there is no single way of creating or using tokens, users need to navigate this complexity understanding what they can or cannot do with the different wallets.

We’ve been preparing for this new world, and we’re taking full control of the transaction creation process with a brand new web wallet. You’ll retain the ability to use other wallets to receive payments and all of the other features that we offer, but you’ll also be able to receive digital assets into your myPaymail wallet.

myPaymail wallet

After the release, when you next login into myPaymail you’ll see a new section labelled “wallet”. This is a new UI for sending and receiving assets using paymail. The wallet is composed of vaults, and you can think of them as accounts that can hold multiple types of assets. Paymails created within the platform will now be able to forward tokens and BSV payments to any vault. More importantly, each vault will have its own transaction history, and so you can set up multiple vaults to keep track of assets depending on their purpose, to separate business transactions from personal ones, etc.

Our goal has been to develop a wallet with a simple interface, and have the user not worry about specific asset protocols - myPaymail will handle these in the background instead. We’ll initially support BSV and SFP (Simple Fabriik Protocol) tokens, but we’re already working on adding more protocols soon.

But this is not all… To move the assets from your wallets, you’ll need to sign transactions. To make this a seamless task, we’ll also be releasing a second product: a key management solution which we call myPaymail keychain.

myPaymail keychain

As our platform has started making use of more advanced BitCoin features, we have recognized the need to have full control of the transaction creation and signing process. This will be needed for token protocols, but also smart contracts down the line.

The myPaymail keychain is a browser extension that allows websites to use keys generated within the extension to sign BitCoin transactions or other data. Every website will be able to generate keys for different purposes and use them. The extension will be open-sourced so that multiple variants with different UIs, logos, etc… can exist, and myPaymail will be using this tool for its internal wallet.

More details to come

We’ll be providing a few more details after the launch. We’re looking forward to supporting the BitCoin SV digital asset ecosystem and its users. Expect to hear from us by the end of the month. Stay tuned!