Para

Para (getpara.com) is an embedded wallet and login service for app developers. It is not the Pera wallet for Algorand, and it is not a wallet you download. Apps use Para's SDKs and APIs to give their users a crypto wallet that opens with an email address, phone number, Google or Apple account, or passkey, with no seed phrase.

The wallets are non-custodial. Each key is split between the user's phone or laptop and Para's servers, so neither Para nor the app can move funds alone. Para works on Solana, Ethereum, Stellar, Sui and many more chains. It was called Capsule until early 2025. Para says over 200 firms now build with it.

How Para wallets work: MPC key shares and passkeys

Para uses MPC, short for multi-party computation. It lets two parties make a signature together while neither one holds the whole key. Para's security docs describe two key shares. One sits on the user's device. The other sits in locked-down hardware in Para's cloud. Both must take part in every signature.

The key is born split, and Para says it is never put back together, on its servers or on the device. A full key only exists if the user exports it, and that happens on their own device.

Passkeys handle login. A passkey lives in your phone or laptop's secure chip and opens with Face ID, a fingerprint or a PIN. Each passkey only works on the site that made it, so it is hard to phish. After login, Para keeps a session open so users don't sign in again for every action.

Para on Solana: Solana Kit, web3.js and Anchor

A passkey can't sign a Solana transaction by itself. It uses a different kind of signature from the one Solana checks. So Para uses the passkey only to prove who the user is. The Solana signature comes from the MPC wallet.

Para's Solana docs cover the two main Solana code libraries. Solana Kit is the newer one, and the one Para suggests. The older web3.js works too, and there is a wrapper for apps built with Anchor. The same wallet can sign on the web, on mobile and on a server.

One public example is Rampa, an app for sending euros from Europe to Latin America. It runs on Solana and signs users up by email through Para. Rampa says a transfer lands in about 30 seconds. Its co-founder said Para saved the team close to a year of work on keys, recovery and security.

Para wallet login, recovery and private key export

There is no Para app to install. You log in inside an app that uses Para, and it makes the wallet for you. Para calls these "universal wallets". The same wallet can follow you to other apps that use Para, so you don't get a new one each time.

If you lose access, the Para Portal, a web page Para runs, walks you through getting back in. The security docs list three backups:

• a recovery secret, created at setup and kept by the user, never by Para;
• backup devices, such as a second laptop or a watch, registered at setup;
• a full key rotation after every recovery, which creates new key shares.

Recovery has a 48-hour delay, so someone who takes over an email account cannot drain a wallet at once.

Users can export their private key for embedded Solana, EVM and Cosmos wallets. Two kinds of wallet cannot be exported: pregenerated wallets the user has not yet claimed, and guest-mode wallets.

Para agent wallets and Transaction Permissions

In 2026 Para has also sold itself as a wallet maker for AI agents. Its agent product lets a server create and run wallets with no person in the loop. The agent never sees the key. Para supports x402 and MPP, two ways for agents to pay for web services in stablecoins, with no account or sign-up.

The safety layer is Transaction Permissions, generally available since 24 September 2026. A developer sets rules in the Para Developer Portal:

• which recipients a wallet may pay;
• how much it can spend, including totals over a time window;
• which transactions need a person to approve them;
• which transactions are refused outright.

Para checks each transaction against those rules before it signs. The rules sit outside the agent's prompt, so changing an agent's task does not change its budget. The announcement does not say which chains the feature covers.

Stablecoin payments, cards and tokenized assets

Para now sells mostly to fintechs that use stablecoins. Its APIs let users buy and sell crypto with cash, send it, bridge it and swap it. A rules engine lets each app add its own compliance checks. Named customers include Paxos, Coala Pay, S&P Global, Aave, MetaMask and the Solana Foundation.

Recent additions, per Para's blog and X account:

• Mastercard: Para joined the Mastercard Crypto Partner Program on 7 October 2026, as non-custodial wallet infrastructure for stablecoin payments. The announcement gave no figures.
• Stablecoin cards: from 22 September 2026, apps can link a Para wallet to a Rain stablecoin card. One approval connects them, and each purchase draws from the wallet balance in real time.
• Tokenized stocks and treasuries: on 30 September 2026, CoinList's Passage began offering Ondo and Superstate assets inside Para wallets. Passage handles compliance and settlement, and the assets land in the user's own wallet.
• Centrifuge funds: a Centrifuge partnership (27 August 2026) brought S&P 500, AAA CLO and Treasury fund tokens to Para wallets on Base and X Layer, not Solana.

Para SDKs and supported chains

Para offers three ways to build:

• a ready-made modal that runs the whole login and wallet flow;
• hooks and SDK functions under your own interface, with Para handling the cryptography;
• a REST API and server SDKs for backend-run wallets.

It works with the main web and mobile tools, including React, Next.js, Vue, Svelte, React Native, Flutter, Swift and Node.js. Telegram bots, Chrome extensions and desktop apps are covered too. A Developer Portal handles API keys, usage stats, branding and alerts. Para ships often, with a new version most weeks through September and October 2026.

Para added Stellar and Sui in August 2026. It was also live on Circle's Arc network from its launch day in September, where fees are paid in USDC. Older support covers Solana, Ethereum and its sister chains, Cosmos, Canton and Miden.

Para pricing

Para charges by monthly active users, not per signature or transaction. Prices as listed in October 2026:

Every plan includes the same wallets, all chains, and your own branding. Paid plans add more apps, higher API limits and more support. The bill grows with your user count, so a fast-growing app should price the next tier early.

Who Para is for

Para suits fintech and payment teams that want stablecoin wallets in their own app, under their own brand. They skip building key storage and recovery. Think money transfer apps, card programs and apps that sell tokenized stocks. It also suits teams that give AI agents wallets with hard spending caps. And it suits apps that need Solana plus other chains from one kit.

It fits less well in three cases. You can't host the keys yourself, because Para's share always sits on Para's servers. A Solana-only consumer app may prefer a Solana wallet's own embedded option. And a small app should check that 1,200 free monthly users is enough.

Most users never pick Para. They meet it inside an app. If that app runs on Para, two things matter: save your recovery secret, and learn how to export your key.

Is Para safe? Audits, custody and risks

Para's main safety claim is about design. No one party holds a full key. So a break-in at Para alone should not put user funds at risk.

• Audits: Least Authority audited Para in October 2023 and January 2024, per Para's site. Para lists a penetration test for March 2026 and says it runs regular audits and pen tests covering MPC, infrastructure, API security and recovery. Its 2026 security post does not name auditors or publish recent reports.
• Compliance: SOC 2 Type II, first certified in January 2025. This checks operating controls over time, not the cryptography.
• Dependence on Para: with 2-of-2 MPC, normal signing needs Para's servers. If Para goes offline, users must rely on the Backup Kit to export their share and sign on their own. That works only if users and apps have set it up.
• Recovery risk: a user who loses every device and never saved a recovery secret may lose access. The 48-hour delay helps against theft but slows real recoveries.
• Portability: Openfort's 2026 comparison rates Para's key export as available but its portability as limited, with no open-source, self-hosted option.
• On-chain programs: Para runs no Solana program of its own, so there is no upgrade authority to check. Risk sits in its off-chain service and SDKs.

We found no reported hack or loss of user funds tied to Para or Capsule as of October 2026. Search results for "Para hack" mostly concern ParaSwap, an unrelated project.

Para vs Privy, Dynamic and Turnkey

Para competes with other firms that sell wallets to apps. All of them offer email and social login, built-in wallets and Solana support. They differ in how they guard keys, who owns them, and which buyers they chase.

• Privy is the best-known rival on Solana and is owned by Stripe (our interview with its CEO). It suits teams already in Stripe's payments world. Para's case against it is its MPC model and cross-app universal wallets.
• Dynamic started as a login and wallet-connection layer and also offers embedded wallets. It suits apps that mostly connect existing wallets (our Dynamic interview).
• Turnkey is lower-level key infrastructure. It suits teams that want to build their own wallet experience on top.
• Phantom's embedded wallet suits Solana-first consumer apps whose users already know Phantom (Phantom's Breakpoint 2024 launch).

Para is the stronger pick for fintech and stablecoin products and for agent spending controls. It is a weaker pick if you want self-hosted keys. Para publishes a migration guide for teams moving from Privy, Dynamic, Web3Auth or Reown, which shows who it sees as competitors.

From Capsule to Para: team, funding and history

Nitya Subramanian founded Capsule in 2022 and runs Para as CEO. She was head of product at Celo before that. The legal company is Capsule Labs, Inc.

In March 2023 it raised a seed round of undisclosed size, co-led by a16z's Crypto Startup School and Geometry. Angels included the co-founders of Anchorage and Celo. We found no later round on record.

The company became Para in February 2025. Later that year the Ethereum Foundation chose Para to run wallets for over 15,000 Devconnect guests in Buenos Aires. Miden also built its ecosystem wallet on Para. In 2026 the pitch has shifted from crypto apps toward fintechs, stablecoins and AI agents.

Does Para have a token?

No. Para has not announced a token. It makes money from the plans shown above. Treat any "Para token" or "Para airdrop" offer as a likely scam unless it comes from getpara.com or @get_para.