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From Wallets to Wonders: Mel Brooks Tackles the Future of Self-Custody with Ambire

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So, I was sitting there, minding my own business, when Ivo Georgiev, the co-founder and CEO of Ambire, walks in like he’s auditioning for a part in a crypto comedy. He starts talking about the mission behind Ambire Wallet, and how it’s tackling some of the most pressing and key challenges in self-custody for crypto users. 🤑

Now, I’ve heard a lot of talk about making self-custody accessible to non-technical users, but this guy’s got a plan. Simplified transaction fees, seedless onboard, account recovery, and in-app security? Sounds like a recipe for a blockbuster hit! 🎬

Georgiev’s not just a talker, either. He’s all about early adoption, especially when it comes to account abstraction. And let’s not forget, Ambire’s ready to integrate seamlessly with Ethereum’s evolving standards, including the mysterious EIP-7702. 🤔

What inspired the creation of Ambire Wallet, and what specific challenges in self-custody user experience were you aiming to solve?

Ambire, my friend, was born out of a spin-off from AdEx, which was an advertising network built on Ethereum. The problem? Trying to get non-technical people to use web3 via MetaMask, writing down seed phrases, and looking for funds to pay gas. It was like trying to teach a chicken to tap dance! 🐔💃

So, we built a user-friendly wallet as part of AdEx, right around the time of the DeFi summer of 2020. That’s when the self-custody problems really started to heat up. We set out to solve the messy onboarding and usability issues that were making everyone’s life a nightmare. 🙃

Ambire is known for its user-friendly approach—how does the wallet simplify crypto for those without technical backgrounds?

Well, for starters, it simplifies paying for transactions. In Ambire, you can get the fee deducted from whatever you have in your wallet, just like any traditional fintech or bank solution. No more digging for loose change! 🪙

But that’s not all. We aim to simplify onboarding by eliminating or delaying the need for seed phrases and enabling account recovery. You can always regain access to your account, even if you’ve lost your device. It’s like having a spare key to your house, but better! 🗝️

And let’s not forget security. We protect users from scams and phishing through in-house transaction simulation. It’s like having a personal bodyguard for your crypto. 🛡️

Ambire has been known for adopting really cool features before they gained mainstream attention. What led you to bet early on account abstraction, and how has that decision shaped the platform’s development?

onboarding and privacy. Imagine trying out a new layer 2 that needs its own native token for gas. You’re stuck until you can bridge to it or fund it from a centralized exchange. In Ambire, you can pay gas in many tokens, and more importantly, you can pay gas cross-chain. This means you can get started with any new L2 without the hassle. 🤷‍♂️

For new accounts, if you only have some stablecoins, you can pay directly with them, just like a traditional fintech app. And for privacy, you reduce the traceable information you leave behind on-chain. It’s like leaving no fingerprints at the scene of the crime. 🕵️‍♂️

How do you see this EIP 7702 impacting wallets like Ambire that already use account abstraction?

EIP-7702 plays right into our hands. We were the only extension wallet focused on supporting EOAs and Smart Accounts in one place. We already had the infrastructure needed to support EIP-7702, and it’s helped us smooth out the learning curve by removing the need for distinct account types. It’s like we were already dressed for the party when the invitation arrived! 🎉

What are some of the biggest misconceptions you encounter about smart contract wallets, and how does Ambire address them?

Our philosophy is simple: things should just work, and users shouldn’t have to think about the distinction between “smart contract” or “EOA” wallets. We’ve busted myths like smart accounts not being able to sign messages, being incompatible with many apps, and not being cold storage. We provide these functionalities live on mainnet and L2s, making the user experience seamless. 🤝

Looking ahead, how is Ambire preparing for the evolving wallet standards and user expectations in the Ethereum ecosystem?

Great question! One of the most exciting advancements we’re working on is cross-chain balance consolidation, or interoperability. This solves the fragmentation problem where you might have 10 USDT on Base and 100 USDT on mainnet Ethereum, but can’t spend more than 100 USDT at a time. It’s like having a bunch of different piggy banks and not being able to combine them. 🐷💰

Thanks to intents, bridges, account abstraction, and cutting-edge tech, these problems are becoming solvable. This is one of our next big goals, and it’s going to make a huge difference in onboarding users to self-custody and getting them off centralized exchanges. 🚀

Disclaimer: The content shared in this interview is for informational purposes only and does not constitute financial advice, investment recommendation, or endorsement of any project, protocol, or asset. The cryptocurrency space involves risk and volatility. Readers are encouraged to conduct their own research and consult with qualified professionals before making any financial decisions. This interview was conducted in cooperation with Ambire Wallet, who generously shared their time and insights. The content has been reviewed and approved for publication in mutual understanding. Minor edits have been made for clarity and readability, while preserving the substance and tone of the original conversation.

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2025-07-11 16:32

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