ZenGo Introduces Non-Custodial, Keyless Competitor to Calibra Wallet

The developers at ZenGo, an Israeli startup that recently released a keyless, non-custodial retail wallet, just published open source code for Libra's first non-custodial wallet, just two weeks after Facebook's announcement.

This is the first alternative to the Calibra wallet, a proposed custodial wallet that will maintain oversight of user's funds.

A Facebook subsidiary of the same name will develop the Calibra wallet and other financial services for the Libra currency.

By drawing on a Threshold Signatures Scheme, the wallet will be keyless.

He said, "You'll be able to use a range of custodial and non-custodial wallets that will have full interoperability with one another, meaning you'll be able to pay and receive payments across wallets from different companies, or use a software wallet you'd operate on your own."

Though Marcus also said, "Facebook won't have any special responsibility over the Libra Network. But we hope that people will respond favorably to the Calibra wallet."

"By providing a TSS based wallet users will enjoy a custodian grade experience but without the complexities of Self Custodian Wallet."

While it has not been released yet, the Calibra wallet will likely be password protected, subject to strict KYC regulations, and subject to Facebook's proprietary orders.

The wallet will be integrated into ZenGo's existing platform and will be capable of holding multiple assets.

Ohayon also said it will support "t out of n" co-signers to further decentralize key ownership and increase wallet security.