WalletConnect CEO Jess Houlgrave has drawn a parallel between crypto wallets and web browsers, underscoring their importance as the primary interface for Web3 adoption. The WalletConnect protocol facilitates $40 billion in annual transactions, supporting over 700 wallets and 70,000 decentralized applications (dApps). It boasts 350 million wallet-to-app connections through QR-based sessions secured by encrypted asynchronous messaging. In a move to decentralize its infrastructure, WalletConnect is introducing a new WCT token and staking mechanism. Additionally, the company is launching Reown, an enterprise SaaS product. Current data indicates that 98% of transaction volume occurs on Ethereum Virtual Machine (EVM) chains, with decentralized finance (DeFi) activities comprising 65% of the total $40 billion in total value locked (TVL).