PROTOCOL SPOTLIGHT: THORWallet

THORChain Intern

10 Jun 2025 — 3 min read

What if your wallet could do more than just hold crypto?

THORWallet’s vision is to build the future of decentralised banking: a mobile-first, non-custodial app with real yield, fiat access, and multisig security.

Recently, THORWallet has broken volume records and that caught our attention. So here’s a spotlight on what they’ve built and what’s coming next.

Chads, whether you’re familiar with THORWallet or not, here’s a quick refresher to get you up to speed. ⤵️

1️⃣ The Origin

THORWallet launched in 2021 with a clear mission: to make DeFi accessible, mobile, and intuitive. After releasing a minimum viable product, the team spent the next few years refining the user experience and building traction.

Along the way, THORWallet won the Startup World Cup 2022 in Dubai, became alumni of the Oxford University Incubator, and was named a Top 10 Swiss fintech in 2023. With over 120,000 real downloads, momentum has been steadily building.

Eventually, the team hit the limits of the original architecture. So they went back to the drawing board, and built Version 3 from the ground up.

Faster, smoother, and redesigned for scale, V3 is built to support the next 100 million users as the founder says. With a fiat on/off-ramp and a native DeFi engine, THORWallet ambitions to become a full-fledged Web3 neobank.

2️⃣ Increasing Volume

And the numbers speak for themselves. Anyone paying attention has likely noticed that THORWallet consistently ranks among the top three protocols by volume and fees each week. 📈

In early 2025 alone, it processed over $450 million in trading volume, pushing total cumulative volume past $1.1 billion across mobile and web.

3️⃣ Cashback for Token Holders

THORWallet doesn’t just route orders, it aligns token holders with platform activity through USDC cashback . 💰

With the upcoming migration from $TGT to $TITN, 70% of DeFi swap fees routed through THORChain and Maya Protocol will be redistributed to $TITN stakers as cashback in USDC.

Additionally, users will earn cashback in $TITN when spending with the TITN-powered MasterCard. 💳

More details will be announced soon. 👉 https://x.com/Thorwallet/status/1914776815551328670

4️⃣ Designed for Teams, DAOs, and Institutions

THORWallet isn’t just for retail. It’s trusted by DAOs, teams, and institutions that need secure and shared access to capital.

While the merger with Vultisig didn’t go through, the OSS Vultisig tech is fully integrated, allowing teams to create vaults and co-sign transactions across devices.

Treasuries can now be managed safely from a mobile interface, making THORWallet a reliable tool for coordination.

5️⃣ Recent Developments and What’s Next

⚙️Version 3 of the THORWallet app is live, rebuilt from the ground up for speed, mobile performance, and long-term scalability. It lays the foundation for DeFi features that will be gradually rolled out with deeper liquidity access and a more customisable wallet experience.

⏳Next up: expanding the global MasterCard offering, which includes a Swiss bank account (supporting CHF, EUR, USD, and CNY), and launching cashback in $TITN.

🔦 Also, a major focus for the coming months is visibility, a core strategy to boost growth and adoption. To accelerate this, THORWallet recently joined the Cointelegraph Accelerator program and CoinMarketCap Labs Accelerator program to increase reach and adoption.

👉 Cointelegraph x THORWallet
👉 CoinMarketCap x THORWallet