How Exa App reimagined banking with smart wallets
Meet the Exa App – an onchain banking app designed for iOS and Android that lets users unlock the full potential of their crypto. They can earn yield, spend globally, and borrow with ease— all through a secure and self-custodial account.
Built by the team behind Exactly Protocol, Exa App is revolutionizing how people interact with decentralized finance by combining innovative DeFi capabilities with an intuitive user experience that rivals traditional banking apps.
Its first product, the Exa Card, is an onchain credit card available in over 160 countries, allowing users to make global payments, including installments, while retaining full custody and control of their funds.
The challenge: self-custodial, secure, accessible DeFi
As DeFi continues to evolve, a persistent challenge has held back mainstream adoption: complexity. Traditional DeFi workflows rely heavily on seed phrases and manual transaction signing, creating significant barriers for everyday users. This complexity not only discourages newcomers but also frustrates experienced builders with high gas costs and constant security concerns.
The Exa App team faced three critical challenges:
Simplifying account management without compromising security
Eliminating the prohibitive gas fees associated with onchain operations
Creating a familiar authentication experience that wouldn't intimidate new users
"Managing private keys and seed phrases left customers vulnerable to human error, theft, and loss," explains the Exa team. "Many found these processes intimidating, discouraging new users from entering the DeFi space."
Enter smart wallets with ERC-6900 superpowers
The Exa App team set out to create a truly user-friendly DeFi experience that wouldn't compromise on security or self-custody. To bring this vision to life, they chose to build with smart wallets for the perfect blend of functionality and flexibility.
The Exa team quickly implemented a familiar, web2-like login experience using passkeys as well as transaction flows that required users to pay zero gas fees. But they didn’t stop there. Their team further slashed gas fees they were sponsoring by 20x by developing a custom Webauthn Owner ERC-6900 module.
ERC-6900 was co-authored by Alchemy, the Ethereum Foundation, Circle, Trust Wallet, and Quantstamp to fuel this type of innovation, enabling builders to extend wallet functionality in a modular fashion to fit their needs.
Exa App’s complete solution resulted in a seamless DeFi experience –
Eliminating seed phrases: Integrated secure biometric authentication through passkeys, making account access as simple as using your smartphone's built-in security
Reducing gas fees by 20x: Implemented a custom ERC-6900 module with RIP-7212 for P256 passkey signature verification, cutting gas fees by 20x.
Enhancing security: Maintained complete self-custody while removing the risks associated with managing private keys
Streamlining experience: Created a familiar, web2-like login experience that works seamlessly across devices
Make Defi easy for everyone
As of March 20th, 2025, Exa App has processed over $1 million dollars onchain across 1.3k credit cards. They're well positioned to continue pushing the boundaries of what's possible in DeFi.
Their implementation showcases how the right infrastructure can transform complex blockchain interactions into seamless user experiences, paving the way for onchain apps to go mainstream.
"I believe this is the future of DeFi: your funds, owned by you, credit based on your collateral, and connected to the real world through a Visa card you can use anywhere—and without thinking about a seed phrase! This is how we onboard the next billion users."
By leveraging smart wallets to execute their vision for accessible DeFi, Exa App has created more than just a payment solution—they've created a blueprint for the future of onchain DeFi apps.
Alchemy Smart Wallets help you build zero-friction onchain experiences. Deploy in minutes with three core components:
Familiar login: Replace 3rd-party pop-up wallets with native in-app auth. Drop in branded sign-in modals for email, passkeys, and social logins with plug-n-play components.
One-click transactions: No gas fees, no signing, just swaps, mints, and trades with one click. Extend functionality with account recovery, session keys, and more through modular, gas-optimized ERC-4337 accounts.
Account abstraction infrastructure: Ship confidently with ultra-reliable, enterprise-grade bundlers and paymasters — all through simple SDK calls.
Use our all-in-one SDK, Account Kit, to build seamless onchain UX end-to-end, or BYO-provider anywhere in the stack.
Reach out to our team anytime! We’re here to help you integrate.
