Civic Technologies has partnered with digital asset financial services provider BitGo to launch a consumer crypto wallet. The consumer wallet will allow users to store and transact crypto payments with privacy and security. It will release in the fourth quarter of 2019.

The user’s mobile phone safely stores the private keys. The wallet will use blockchain to verify the identifiable information of users without sharing the underlying data between parties. Users can also select what portions of the verified identity they want to share with third parties. With the wallet, the users can store, send and receive crypto, as well as enable account and funds recovery. With redundant backup systems, the user can restore the wallet if the mobile device is lost or stolen.

Mike Belshe, Co-Founder and CEO of Bitgo, underscored that such technologies represent a big step forward for crypto users. Recently, Chinese blockchain platforms NEO and Ontology are partnering to create an interoperable protocol that will support a full spectrum of digital assets.