Loopring Smart Wallet is a free, self-custodial wallet developed by Loopring HK Technology Limited for iPhone users. It allows users to take control of their assets, trade, and transfer them with Ethereum-level security at much lower fees and faster transactions. The wallet harnesses the power of zkRollups with Loopring L2, which enables easy movement of assets between the wallet's L1 and L2 accounts. The wallet also supports ERC-20, ERC-721, and ERC-1155 tokens and NFTs.

The wallet is designed to be secure, smart, and trustless. It is self-custodial, meaning only the user is in control of their assets. The wallet is managed by a smart contract, allowing for enhanced security features such as social recovery with Guardians and cloud recovery. The wallet also features two-factor authentication (2FA) and the ability to lock the wallet instantly if the mobile device is lost or stolen. Additionally, daily quotas can be set to limit the maximum value of tokens that can be transferred in a 24-hour period, and trusted contacts can be exempted from the quota limit.