Phantom, the leading crypto wallet in the Solana ecosystem, has made its first acquisition by buying out Bitski, a wallet-as-a-service platform backed by high-profile investors, including Andreessen Horowitz (a16z) and Galaxy Digital.

"The Bitski team will be joining Phantom to bring embedded wallets to Solana, simplifying the onboarding process for both users and developers," Phantom said Tuesday. "The current Bitski products will be sunset in the coming months and users will be notified about next steps."

Talks between Phantom and Bitski began earlier this year, and the deal has already been completed with no pending approvals, Phantom co-founder and CEO Brandon Millman told The Block.

Bitski's team, including its co-founders, will join and expand Phantom's current team of over 80 …