Uniswap Labs, the company behind the leading Ethereum-based decentralized exchange (DEX), is reportedly facing a roadblock in its efforts to launch a mobile crypto wallet for iPhone users. According to a Uniswap Labs representative, Apple (AAPL) has yet to provide approval despite the firm’s compliance with all of Apple’s specifications. This latest setback adds to criticism that Apple is an inflexible gatekeeper regarding crypto companies’ access to the iOS system and its ban on crypto trading apps not using ‘an approved exchange.’
It remains to be seen whether Uniswap Labs will be able to launch its wallet on time or if Apple’s delay will cause any further setbacks.
In a press release, Uniswap Labs confirmed that their planned mobile app is primarily a self-custodial crypto wallet. This means users will have full ownership and control over their assets on the platform.
Uniswap Labs’ app will also offer the ability to trade tokens directly with Uniswap, which is currently the most trafficked DeFi exchange with over $1.2 billion in 24-hour trading volume, according to CoinGecko. While there has been speculation regarding whether Uniswap could meet Apple’s criteria for an “approved exchange,” Uniswap Labs will instead focus on releasing their app via the TestFlight beta platform to 10,000 users.